GameStop’s latest stock drop looks like the end of the line

When GameStop’s stock price fell more than 50% on Tuesday, closing at $ 90, we weren’t sure whether it would go up or keep going down. It looks like we now have our answer, as the GME dropped another 41%, closing today at just $ 53.50.

That’s less than the shares sold the week before taking off on a roller coaster ride induced by retail investors from Reddit and an unprecedented frenzy on social media. So it looks like we’re not really immersed, but on the long, slow journey back to the beginning.

When I wrote about GameStop’s stock drop on Tuesday, the stock fell 81% from its $ 483 peak. It is now 89% below that peak. There has always been a chance for a rally (and I think, technically, there still is), but it looks like the meme may actually be over. If so, it is a sad ending: anyone who bought the stock during the race and has kept it so far is in the red at GME.

Image: Apple Stocks