Good morning everyone! Here we go with a funny story seen in the markets this week.
GameStop is a Texas based games-selling company that operates in the US, Canada, Europe, New Zeland and Australia. This corporation trades on the NYSE under the ticker GME.
This stock has experienced a big sentiment fight recently driving its price to blow up 283% in less than two weeks.
The company had really large sell positions on its stock from investors arguing a bad future for the company. We have also seen professional investors from big companies predicting devastating price predictions, you can see some featured in Etoro here:
But the bulls decided to fight back. We have also seen the other side of the equation, many retail investors started seeing this stock attractive and investing their money in it, which caused the circulating supply to end. This means there were no more shares left from the stock and exchanges had to liquidate some big sell orders to provide for the buy orders, which caused the stock to skyrocket as we can see here:
Keep in mind this is not financial advice and I do not even think this would be a good investement, this is purely and uniquely a story found in the stock market.
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