GameStop Stock: 2021's Wild Ride
A Look at the Meteoric Rise and Fall of a Retail Giant
Soaring to New Heights
GameStop stock soared to unprecedented heights in January 2021, fueled by a frenzy of retail trading and a short squeeze. On January 28, the stock reached a pre-market value of over US$500 per share, a staggering 125% increase after adjusting for splits.
A Speculative Boom
The 2021 GameStop stock surge was driven by a combination of factors, including a Reddit-led surge in retail investor interest, the company's short-squeeze potential, and a broader market rally. The phenomenon captured the attention of global media and financial professionals.
Robinhood's Intervention
The GameStop stock saga took a dramatic turn on March 17, 2021, when popular investing app Robinhood restricted trading of the stock, citing heightened volatility. The move drew widespread criticism and raised questions about the fairness of the financial system for retail investors.
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