GME Stock Price: Gamestop slumps as markets pullback further on weak jobs report
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NYSE: GME fell by 5.05% during Friday’s trading session.
- Robinhood allegations are dismissed by a Miami Judge.
- GameStop stock is struggling ahead of its earnings call next week.
NYSE: GME failed to stay positive to close the week as it reversed course on its short-lived rebound from Thursday’s session. Shares of GME fell by 5.05% and closed the tumultuous week at $172.39. As with most other stocks, GameStop tumbled this week, losing over 15% during what was one of the worst trading weeks of the calendar year. On Friday, there was more blood on the streets as a weaker than expected jobs report for the month of November caused all three major indices to give way once again. The NASDAQ fell the hardest as the tech-heavy index tanked by a further 1.92%, while the benchmark S&P 500 also fell by 0.84% during the session.
Stay up to speed with hot stocks' news!
Earlier this week, the class-action lawsuit that had been filed by a group of retail investors was dismissed by a Judge in a Miami Federal Court. The allegations were against Citadel Securities as well as investment brokerage Robinhood (NASDAQ: HOOD), and claimed that the retail investors were prevented by the platforms from buying shares of GameStop and AMC (NYSE: AMC) during the short squeeze. The Judge cited that the group did not present enough direct evidence that the companies were involved in an antitrust conspiracy. Shares of Robinhood were down 10.95% on Friday.
GME stock news
GameStop’s stock is at a vulnerable point ahead of the company’s third quarter earnings call next week. Not only is the retail sector being heavily affected by the emergence of the Omicron variant of the coronavirus, but the company hasn’t provided much of an update on its ongoing digital transformation. Shareholders will be looking for news on the NFT and Blockchain integration that Chairman Ryan Cohen has been teasing.
Like this article? Help us with some feedback by answering this survey:
- NYSE: GME fell by 5.05% during Friday’s trading session.
- Robinhood allegations are dismissed by a Miami Judge.
- GameStop stock is struggling ahead of its earnings call next week.
NYSE: GME failed to stay positive to close the week as it reversed course on its short-lived rebound from Thursday’s session. Shares of GME fell by 5.05% and closed the tumultuous week at $172.39. As with most other stocks, GameStop tumbled this week, losing over 15% during what was one of the worst trading weeks of the calendar year. On Friday, there was more blood on the streets as a weaker than expected jobs report for the month of November caused all three major indices to give way once again. The NASDAQ fell the hardest as the tech-heavy index tanked by a further 1.92%, while the benchmark S&P 500 also fell by 0.84% during the session.
Stay up to speed with hot stocks' news!
Earlier this week, the class-action lawsuit that had been filed by a group of retail investors was dismissed by a Judge in a Miami Federal Court. The allegations were against Citadel Securities as well as investment brokerage Robinhood (NASDAQ: HOOD), and claimed that the retail investors were prevented by the platforms from buying shares of GameStop and AMC (NYSE: AMC) during the short squeeze. The Judge cited that the group did not present enough direct evidence that the companies were involved in an antitrust conspiracy. Shares of Robinhood were down 10.95% on Friday.
GME stock news
GameStop’s stock is at a vulnerable point ahead of the company’s third quarter earnings call next week. Not only is the retail sector being heavily affected by the emergence of the Omicron variant of the coronavirus, but the company hasn’t provided much of an update on its ongoing digital transformation. Shareholders will be looking for news on the NFT and Blockchain integration that Chairman Ryan Cohen has been teasing.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.