Shares of GameStop Corp. GME,
slipped 1.7% in morning trading, but a second-straight decline is certainly not a certainty given how much it’s already recovered in the current session. The videogame retailer and meme stock was down as much as 6.5% at its intraday low of $168.16 hit a little more than 15 minutes after the open, before bouncing to trade up as 0.6% at its intraday high of $181.05 reached a little more than 50 minutes after the open, before pulling back. On Tuesday, the stock had dropped 5.1% to snap a record-tying 10-session win streak in which investors demonstrated a rare resiliency. In Tuesday’s loss, the stock was down as much 14.0% soon after the open, then recovered to trade up as much as 5.2% with less than 90 minutes left in the session before suffering a late-day selloff that resulted in the first decline in 11 sessions. GameStop’s stock has rallied 19.2% year to date, while fellow meme stock AMC Entertainment Holdings Inc. AMC,
has gained 3.5% and the S&P 500 SPX,
has slipped 3.2%.
Credit: www.marketwatch.com /