After the price explosion at the end of January, things had calmed down around the Gamestop share. Now the course is going wildly up and down. Reddit traders also seem to be back.

On the shares of the games retailer Gamestop, a dispute between young traders and hedge funds, which were hoping for falling prices, broke out in January (Shortseller) pointed. Driven by private investors using apps like Robinhood and providing information on stock market prices on the Reddit platform, the game stop price exploded and shortsellers lost billions. Now the action seems to be picking up speed again – although the shortsellers have already largely withdrawn.

Gamestop share price has doubled

Since the end of February, the Gamestop share has been rising continuously again after a sudden crash in January followed the soaring. The latest high-altitude flight apparently started from a somewhat cryptic tweet from Gamestop investor Ryan Cohen, a hopeful of Gamestop fans. In the past few days, the share price then doubled – initially even against the general trend on the downward markets. On Wednesday, a sudden price explosion, a sudden crash and a subsequent recovery caused head shaking among the stock exchange traders.

At the end of the day there was another plus of 7.3 percent, the sixth daily profit for the Gamestop share and the longest rally since September, as Bloomberg notes. In between it was wild. The stock market price went through the roof, jumped to $ 348, only to plummet to $ 172 within 22 minutes. Only a few minutes later things started to improve again. At the close of the market, the Gamestop share held at around $ 265. For comparison: In January the stock stood briefly at $ 483.

Does Youtuber Roaring Kitty have a hand in it?

Even the Reddit forum Wallstreetbets, which is particularly active in the hype around Gamestop, currently seems to have its fingers back in the game. The forum is currently overflowing with threads and comments on Gamestop shares. And another friend, the Youtuber “Roaring Kitty”, is said to have tweeted to buy more shares at the time of the crash on Wednesday in order to drive the price back up (“buy the dip”). The Twitter message is little more than a gif taken from the British series Fleabag.

Woah.

At 12:40, $ GME was near its bottom of $ 198.

After 12:46 when @TheRoaringKitty tweeted, $ GME sky-rocketed.

Was this a deeply fucking valuable Uno-reversal move?

– unusual_whales (@unusual_whales) March 10, 2021

How things will go on with the Gamestop share now is written in the stars. Before the New York Stock Exchange opened on Thursday, the paper posted a slight minus of four percent. Market observers advise newcomers to keep their hands off the stock as long as it is so volatile. In any case, the Robinhood traders have achieved one goal in the past few weeks: the shortsellers seem to have withdrawn. According to data from S3 Partners, just under every fifth traded share is currently sold in a short position. In January, this share was 140 percent, which made it easier to push out the shortsellers (short squeeze) at this point in time.

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