GameStop Takes $6 Billion Round Trip as Results Shrugged Off
Bailey Lipschultz,27 March 2021
GameStop Corp. is ending the week where it started, after an earnings-related selloff was quickly reversed, with retail investors refusing to let go of their commitment to the stock.
Investors were quick to get over GameStop’s 12th consecutive quarter of slowing sales and management’s decision to not take questions on its earnings call on Tuesday, despite warnings from most Wall Street analysts. After see-sawing to as low as $118.62, the stock was trading near last week’s closing level on Friday. That created a more than $6.4 billion swing in market value from Monday’s intraday high to a bottom on Wednesday.
