Gamestop Shares Collapse is the Just Beginning  , The Whole Market will Eventually Crash
Channel: The Nomad Economist
Date: 04/02/2021

Gamestop Shares Collapse is the Just Beginning  , The Whole Market will Eventually Crash

GameStop stock tumbled as much as 80% from highs as Traders take profits .
GameStop shares fall by 60% on Tuesday, as the price hit $90, after they tumbled as much as 34% on Monday .The struggling  video game store chain has been the focal point of a battle by small traders, using forums such as Reddit, to punish Wall Street hedge funds that have bet on certain stocks falling in value. GameStop shares hit a high of $482 last Thursday but slumped to $80 shortly after the market opened. They recovered to $117 by mid-session, but closed down 60% at $90.
This all comes as a lackluster climax to the GameStop stock saga which made headlines last week. Thanks to Reddit, the stock for the failing business soared after being artificially inflated in an effort to screw over Wall Street. After seeing that GameStop was one of the most shorted stocks on the market, Reddit realized they could make big gains by driving up the price. Wall Street would be forced to give in and also drive the price up, allowing for big profits. The scheme was recognized by the likes of Elon Musk, which caused the stock to grow even higher.

All good things must end.
Short-sellers got greedy. Not content to just bet against GameStop, they wanted to grind its stock down by shorting more stock than was available through the company's float, or the amount of shares available to trade on the market. 


For the full transcript go to https://financearmageddon.blogspot.com
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