GME Stock News: GameStop Corp edges lower during the session as Citadel saga continues

NYSE:GME fell by 0.26% on Thursday despite a late day surge.
The ongoing saga with Citadel Securities continues as more allegations are made.
Robinhood sees its stock continue to fall amidst the recent drama.

Stocks Reporter FXStreet

NYSE:GME had a late day surge on Thursday, but it still wasn’t enough to salvage a positive day for the stock. Shares of GameStop fell by 0.26% on Thursday and closed the trading session at $175.47. It was another day of losses for the U.S. markets as the Dow Jones tumbled a further 546 basis points, while the S&P 500 wrapped up its worst month since March of 2020. Meme stocks were mixed although mostly positive despite the broader sell-off. AMC (NYSE:AMC) and Vinco Ventures (NASDAQ:BBIG) were amongst the gainers on Thursday as the major U.S. indices closed a tumultuous month lower across the board.

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The recent lawsuit filed by retail investors against Citadel Securities and Robinhood (NASDAQ:HOOD) is just the latest in the ongoing saga between the pros and joes of Wall Street. Allegations that Citadel and Robinhood colluded to suppress the stock price of GameStop during the short squeeze in January are running rampant. Citadel CEO Ken Griffin has openly said he has never spoken directly with Robinhood CEO Vlad Tenev, which has prompted the hashtag #KenGriffinLied to go viral on social media.

GME stock forecast

Another result of the ongoing saga is that Robinhood’s stock has fallen nearly 6% during this past week. Shares of the stock trading platform have struggled since the company went public at the end of July. Although some notable investors like Ark Invest’s Catherine Wood have been adding Robinhood to their portfolios, the stock remains a divisive one and is definitely not at the top of the watchlist for retail investors.

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Stocks Reporter

FXStreet

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