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Small Gamestop Investors Aren’t Giving Up as Price Drops Below $100

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Small Gamestop Investors Aren’t Giving Up as Price Drops Below $100

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While the price of video game retailer Gamestop has slumped this week, many of the small investors that have rushed the stock are still holding and some are buying more. The company’s efforts to reinvent its struggling business model remain laden with uncertainty, but investors have flocked to it in hopes that hedge funds that borrowed and “shorted” large quantities of the stock will be forced to buy the stock back, thus sending its price sky-high. Gamestop (ticker GME) price indeed skyrocketed from less than $5 per share in August to $30 in mid-January and then nearly $500 per share at one point last week before dropping below $90 in the morning of Feb. 3. Though some corporate media have claimed that the investors, largely organized through the Reddit forum “r/wallstreetbets,” have now moved on from the Gamestop stock, chatter on the forum indicates otherwise. Many members of the 8.4 …

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