Is GameStop’s share price up or down today?
GAMESTOP'S shares have continued to slump below $100 as of Thursday, February 4.
The in less than a week, as the Reddit gang phenomenon seems to be cooling down.
Is GameStop's share price up or down today?
According to Marketwatch.com, it is down by 60.47 percent within the last five days.
As of February 4, GameStop stocks stood at just $74 a share.
The gaming company's stock plunged below $100 per share on February 2, and barreled toward their steepest one-day decline on record.
At one point, the GameStop's shares fell by as much as 67 percent apiece on Tuesday before clawing back.
They have collapsed by as much as 77 percent since January 29, after and other .
The stock was at an all-time-high of $483 after surging over 2000 percent last month.
GameStop shares surged 700 percent the week of January 25, after in a move that left major hedge funds reeling from billions of dollars in losses.
What is AMC stock price today?
has also continued to see a huge drop, with the movie-theater company falling by another 7.1 percent as of February 4.
This is down 63 percent from the recent high of $20.36.
Hours after the market opened Thursday morning, the movie-theater company's share stood at $8 a share after opening the day at $8.70.
GameStop, AMC Entertainment, Bed Bath & Beyond, Blackberry, and Nokia stocks are among eight that were subject to trading restrictions on the Robinhood investing app and other trading companies.
The companies stock prices have also plummeted in recent days since the restrictions by investing apps were put in place.
What happened at Wall Street Stock Exchange with Reddit group?
Members from the group , on the website , banded together to "squeeze short-sellers," where the short sellers betting against GameStop are being forced to buy more GameStop stock to cover their losses.
That pushed the price up even more, which forces more short sellers to cover their losses, which pushes the price up even more.
Some of the Reddit crowd believe that GameStop stock could reach into the thousands of dollars just because of this mechanism.
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The groups efforts drove the value of GameStop shares up by 1,529 percent from January 12 through January 29, and caused a threat for a number of hedge funds.
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One such fund was , which lost more than 30% in the first few weeks of this year, at least partially due to its bet against GameStop.
The losses forced the fund to take a $2.75 billion cash infusion from fellow hedge funds Citadel and Point72 Asset Management.
