Meme-stock darling GameStop sees continued downward trend

  • GameStop shares on track for biggest decline since December
  • Stock down 5.5% and on pace to extend losing streak to three days
  • GameStop fell 32% in the last 52 weeks compared to S&P 500’s gain of 18.9%
  • Meme-stock rally in January 2021 boosted GameStop’s stock by over 1,200%
  • GameStop’s market cap now at $4.51 billion, down from $17 billion
  • AMC Entertainment Holdings Inc. also experiencing a slide in stock price

Shares of GameStop, the original meme stock, are on track for their largest daily percentage decline since December. The stock is down 5.5% today, extending its losing streak to three days. Over the past 52 weeks, GameStop has fallen 32%, while the S&P 500 index has gained 18.9%. In January 2021, GameStop experienced a meme-stock rally, with its stock soaring over 1,200% and reaching a market cap of $17 billion. However, the stock has since pulled back significantly, and its market cap now stands at $4.51 billion. AMC Entertainment Holdings Inc., another meme-stock darling, is also seeing a decline in its stock price.

Public Companies: GameStop Corp. (GME), AMC Entertainment Holdings Inc. (AMC)
Private Companies:
Key People: Matthew Furlong (Former CEO of GameStop Corp.), Ryan Cohen (Activist investor and current CEO of GameStop Corp.)

Track all markets on TradingView

Factuality Level: 8
Justification: The article provides factual information about the decline in GameStop’s stock and its recent performance. It also mentions the meme-stock buying frenzy and the leadership changes in the company. However, it lacks in-depth analysis and context, and there is no mention of any other factors that may have contributed to the decline in stock price.

Noise Level: 3
Justification: The article provides some information about the decline in GameStop’s stock and mentions its previous meme-like rally. However, it lacks in-depth analysis, evidence, and actionable insights. It also includes unrelated information about AMC Entertainment Holdings Inc., which is not relevant to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: Shares of GameStop Corp. and AMC Entertainment Holdings Inc.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the decline in GameStop’s stock and mentions the previous meme-stock buying frenzy in January 2021.

Reported publicly: www.marketwatch.com