Just when you though the GameStop drama was over the stock has seen a huge rise in value and continues to skyrocket.
Even if you’re not a trader you will have heard about the recent drama surrounding the stock value of the popular gaming store GameStop. Just over a month ago traders saw an incredible spike in the companies stock prices due to various efforts in the popular subreddit Wallstreetbets.
Now, the value of the companies stocks has started to rapidly rise again almost reaching the price of its original spike a month ago. Of course, no one can say if this sudden surge in value will last or if it is headed for a sharp decline similar to what we saw happen with the stock price last time.
At the time of writing the Gamestock price is currently at $292.80, the stock has seen a 467.29% rise in the last 30 days. The price at the moment is just shy of the peak $347.52 we saw around a month ago.
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After the sudden fall in value in January it just shows the inconsistency of this stock. It is still unsure what exactly has caused this second spike in value, could it be more crowdsourcing coming from Reddit? Or could it be bots that are falsely raising the value. It is too early to say just what the cause could be.
However, of course no one can say just what will happen next, will it continue to rise? Or will we see a decrease like we have witnessed in the past?
Either way, anyone thinking of jumping in should make sure to conduct thorough research.
Featured image credit: ltyuan – stock.adobe.com