untitled design

GameStop (GME) recovers from its ashes and surpasses $ 100 – Three reasons for the rally

  • NYSE: GME started Wednesday’s session up around 20%, above the $ 100 level.
  • Bargain hunters are hopping on GameStop Corp. after it lost 60%.
  • WallStreetBets retail investors have split and moved to silver.

GameStop Corp. (NYSE: GME), the example of the recent market craze, has been experiencing an impressive rally with a jump above $ 100. Shares of the video game company collapsed from a high of $ 483 last week, and a close of $ 325 on Friday, to $ 90 at the end of the session on Tuesday.

GME News: Three Reasons to Bounce Back

GME

There are three reasons for recovery. First, bargain hunters have been hopping on GME, seeing genuine rationale to buy in the middle of a renewed business plan of the company. That was the initial reason for getting up, before the Reddit frenzy.

Secondly, the trend toward short-term silver, a market worth 200 times GameStop, has divided the community. After the XAG / USD rose above $ 30, it is down again.

In third place, RobinHood relaxed its limitations related to buying and selling shares. While the online trading platform, which had to raise funds in a direct sale, still imposes restrictions, it is now easier for investors to buy new shares.

.

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular