Posted 9/7/2023, 1:50:00 PM

GameStop Stock Defies Gravity, Holds Gains Despite Meme Stock Crash

GameStop (GME) stock has risen from under $5 in 2020 to over $18 currently, despite falling from meme stock highs.
January 2021 short squeeze driven by retail investors on Reddit's WallStreetBets punished excessive short selling.
Other "meme stocks" like AMC and Blackberry subsequently fell below pre-squeeze levels, but not GameStop.
GameStop has used meme stock mania to improve business, with better cost structure and outlook.
If GameStop becomes profitable, it would validate the meme stock squeeze from early 2021.

nasdaq.com

Relevant topic timeline:

9/30/2023

Meme Stock Mania Fades as GameStop, AMC Crash Back to Earth

The meme stock fad has come to an end as the stocks have returned to their pre-runup prices or even lower, with GameStop being the last one standing and heavily dependent on fundamental support.