Remember the GameStop stock craze? Looks like it’s over

Today its stock is trading at around $100, down from its high of $483 a share on Jan. 29, 2021. It's safe to say that if you were the average investor in GameStop, you lost your shirt.

By

National News

January 25, 2022 - 3:59 PM

GameStop store sign on Jan. 27, 2021, in New York City. (Michael M. Santiago/Getty Images/TNS)

Just about one year ago, a consumer chain lumbering its way toward business irrelevancy suddenly became the lodestar of a stock market craze.

GameStop, a a money-losing video- and computer-game retailer with 5,000 stores facing a bleak future as game-buying shifted from physical products to digital downloads, seemingly had nowhere to go but down. Short sellers had piled into its stock, betting that it was on a glide path to extinction.

Suddenly, in January 2021, the shares took off. On the first trading day of that year, they closed at $17.25. On Jan. 29, they closed at $325, a day after hitting an intraday peak of $483. On Monday, they fell $6.21 or 5.8%, to $100.15, their lowest level since Feb. 24, 2021.

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