GME Stock Price: GameStop Corp trades flat ahead of Easter long weekend

NYSE:GME gained 0.05% during Thursday’s trading session..
Meme stocks are rising as Elon Musk makes a bid to buy Twitter.
Jack Dorsey’s first ever Tweet NFT is a dud at a recent auction.

Stocks Reporter FXStreet

NYSE:GME traded mostly flat on Thursday but still managed to eke out a small gain during another bearish session for the broader markets. Shares of GME edged higher by 0.05% and closed the last trading day of the week at $150.77. The market rollercoaster continued on Thursday as the major indices continued to flip flop between red and green days. All three major indices erased their gains from Wednesday’ session, as the Dow Jones lost 113 basis points, the S&P 500 fell by 1.21%, and the NASDAQ tumbled by 2.14% as tech stocks sold off before the Easter long weekend.

Stay up to speed with hot stocks' news!

Meme stocks have been back in the headlines as Tesla (NASDAQ:TSLA) CEO Elon Musk made an aggressive buyout offer for the social media platform, Twitter (NYSE:TWTR). On Thursday, Musk offered $43 billion to buy the platform outright. Early indication is that Twitter will be declining Musk’s offer. Retail traders have been known to follow Musk’s every move on social media, and famously caused the price of DogeCoin to spike after Musk touted the meme token. It should be noted that Twitter currently has a market cap of $34 billion, which makes Musk’s offer for Twitter worth upwards of more than $50 per share.

GME stock forecast

Former Twitter CEO Jack Dorsey’s first ever tweet NFT was purchased for $2.9 million last year. The buyer, Sina Estavi, listed the NFT at a recent auction for $48 million. Unfortunately for Estavi, the highest bid the NFT saw was for $280. While the value of the NFT certainly is somewhere in the middle of those two prices, this does speak to the volatility of the NFT market in general. GameStop is anticipated to open its NFT marketplace at some point in the second half of 2022.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

AUD/USD meets support near 0.7000

AUD/USD fades Monday’s optimism and trades with decent losses in the low 0.7000s ahead of the opening bell in Asia. Indeed, spot fails to capitalise on the offered stance of the Greenback and the relatively easing tensions in the Middle East on Tuesday. In the meantime, the AUD is expected to follow the release of housing data in Oz and Chinese inflation figures, all due on Wednesday.

Japanese Yen steadies near recent lows as ceasefire, Japan intervention threats offset

USD/JPY trades around 160.15 on Tuesday, remaining close to its highest level since April 30 despite a broadly neutral intraday performance. The pair retains an underlying bullish bias, supported by expectations that US monetary policy will remain restrictive, although upside potential is being capped by the risk of intervention from Japanese authorities.

Gold dives to fresh two-month lows, aims to challenge $4,000

The selling pressure now gathers extra pace and sends Gold to new three-month lows near $4,230 per troy punce on Tuesday. That said, the yellow metal resumes its decline on the back of a recovery attempt in the US Dollar and the likelihood of a tighter-for-longer Fed this year.

Zcash Price Forecast: ZEC extends gains, targets $500 as retail demand and momentum strengthen

Zcash (ZEC) gains momentum and trades near $470 at the time of writing on Tuesday, shrugging off a broader risk-off mood primarily driven by geopolitical tensions in the Middle East and macroeconomic uncertainty. Retail activity remains relatively elevated, as reflected in the derivatives market.

Hotter US inflation numbers could further bolster Fed hike bets

Middle East tensions keep inflation risks elevated. Fed hike fully priced in by year end amid strong NFP report. US CPI data on Wednesday (12:30 GMT) to enter the spotlight. Further acceleration in inflation could drive the Dollar higher.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.