During the last trading session, GameStop (GME) is decreasing 4% on the last day. The price indicators were moving downwards on the stock chart along with showing the negative change from $183 to $175. The investors from the Reddit forum, known among themselves as “apes,” are likely feeling vindicated about their meme stock choice of GameStop. Currently, the total market capitalization is equal to 11.788B.
Robinhood, the retail stock trading platform that has hosted at least seven explosively successful IPOs in recent days, was also in the thick of the action during the world-famous GameStop short squeeze in 2021’s first weeks. An army of retail investors, using the Reddit subforum r/WallStreetBets to discuss the situation, bought into GameStop and the share price soared. As a result, Robinhood eventually imposed trading restrictions on January 28.