GameStop Stock Soared, Then Fell All the Way Back Down, in Biggest Price Reversal Since May. But Why?

MarketWatch2022-11-01

Something strange happened to GameStop Corp.GME,+0.50%stock on Monday. Minutes after the opening bell rang out on the New York Stock Exchange, both the price of the company’s shares and trading volume...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

newminted
2022-11-01
newminted
Ok
caklee
2022-11-01
caklee
Up up up[Happy]
runningjames
2022-11-01
runningjames
Oh.. too fast cant figure out and sell on time [Sad]
SalTheFun
2022-11-01
SalTheFun
Yeah
ALi_BaBa
2022-11-01
ALi_BaBa
Like
- MIe:
  1 day quick profits
- newminted:
  ok
- IcyAlchemist:
  Ok
- kxkee:
  ok
Polited
2022-11-01
Polited
Why call it "Limit Up Limit Down" when it only limits up? [LOL]

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2280733761?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-11-01 10:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2280733761","market":"us","top_or_hot":-1,"title":"GameStop Stock Soared, Then Fell All the Way Back Down, in Biggest Price Reversal Since May. But Why?","media":"MarketWatch","content":"<div>\n<p>Something strange happened to GameStop Corp.GME,+0.50%stock on Monday. Minutes after the opening bell rang out on the New York Stock Exchange, both the price of the company’s shares and trading volume...</p>\n\n<a href=\"https://www.marketwatch.com/story/gamestop-stock-soared-then-fell-all-the-way-back-down-in-biggest-price-reversal-since-may-but-why-11667250287?mod=home-page\">Source Link</a>\n\n</div>\n","source":"lsy1603348471595","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Stock Soared, Then Fell All the Way Back Down, in Biggest Price Reversal Since May. But Why?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop Stock Soared, Then Fell All the Way Back Down, in Biggest Price Reversal Since May. But Why?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-01 10:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/gamestop-stock-soared-then-fell-all-the-way-back-down-in-biggest-price-reversal-since-may-but-why-11667250287?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Something strange happened to GameStop Corp.GME,+0.50%stock on Monday. Minutes after the opening bell rang out on the New York Stock Exchange, both the price of the company’s shares and trading volume...</p>\n\n<a href=\"https://www.marketwatch.com/story/gamestop-stock-soared-then-fell-all-the-way-back-down-in-biggest-price-reversal-since-may-but-why-11667250287?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GME","symbol_name":"游戏驿站","start_time":0,"source_url":"https://www.marketwatch.com/story/gamestop-stock-soared-then-fell-all-the-way-back-down-in-biggest-price-reversal-since-may-but-why-11667250287?mod=home-page","article_id":"2280733761","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2280733761","pubTimestamp":1667269519,"sourceInfo":{"source_id":"lsy1603348471595","name":"MarketWatch"},"weMediaInfo":null,"summary":"Something strange happened to GameStop Corp.GME,+0.50%stock on Monday. Minutes after the opening bel","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GME":"游戏驿站"},"translate_title":"游戏驿站股票飙升，然后一路下跌，这是自5月以来最大的价格反转。但是为什么呢？","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GME":1},"content_text":"Something strange happened to GameStop Corp.GME,+0.50%stock on Monday. Minutes after the opening bell rang out on the New York Stock Exchange, both the price of the company’s shares and trading volume exploded.Then, roughly five minutes after the market opened, GameStop shares were suddenly halted by the NYSE, which cited the “Limit Up Limit Down” rule.When approached by MarketWatch with a request for comment, a representative for the NYSE referred MarketWatch to a section of the exchange’s website that explains the reasoning behind “LULD” halts.According to the site, “every security has an upper and lower price band with the reference price as the mid-point. If an offer reaches the lower price band or a bid reaches the upper price band that stock will enter a limit state (a pause) for 15 seconds.”Within the span of about 10 minutes, trading was briefly halted twice, according to data published by NYSE, which is owned by Intercontinental Exchange Inc.After trading resumed for the second time, the price of GameStop shares started to tumble. Shares finished the session marginally higher at $28.31, with a gain of just 14 cents, or 0.5% on the day after rising more than 24% at their peak.The immense intraday swing marked the largest bout of intraday reversal since May 26, according to Dow Jones Market Data.During the first hour of Monday’s session, 12,696,871 shares changed hands. That’s nearly 1,200% higher than the average volume for that period over the past 30 trading sessions, according to DJMD.So, what triggered Monday’s madness? Analysts who follow the stock aren’t sure.Wedbush Securities analyst Michael Pachter, who has covered GameStop for years, said he didn’t see any particular reason behind Monday’s action. Another Wall Street analyst didn’t return a request for comment from MarketWatch.GameStop’s investor relations department didn’t return a request for comment from MarketWatch.On a subreddit called “Superstonk,” which is dedicated to discussing GameStop, some denizens blamed the trading halt for sabotaging Monday’s rally in the stock.To some it recalled a now-infamous incident that occurred during the original bout of “meme stock” trading mania in January 2021.After shares reached a closing high of nearly $350 per share, Robinhood Markets and other discount electronic brokerages decided to restrict buying of GameStop shares by their customers, causing the price to dramatically decline.Lawmakers became incensed that brokerages had seemingly deliberately saddled customers with losses. Congressional hearings were held, and ultimately a report about the incident revealed that Robinhood’s liquidity issues were more severe than the company had let on.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9985058101,"gmtCreate":1667274246003,"gmtModify":1676537889652,"author":{"id":"3581990957315863","authorId":"3581990957315863","name":"newminted","avatar":"https://static.tigerbbs.com/f7fb0ce2c2c4a88e9708e5c7eaf6cfbf","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3581990957315863","idStr":"3581990957315863"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985058101","repostId":2280733761,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9985050270,"gmtCreate":1667273508690,"gmtModify":1676537889532,"author":{"id":"4110711526721282","authorId":"4110711526721282","name":"caklee","avatar":"https://community-static.tradeup.com/news/c02a41401176337dcebcf7eaafb3deb0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4110711526721282","idStr":"4110711526721282"},"htmlText":"Up up up[Happy]&nbsp;","listText":"Up up up[Happy]&nbsp;","text":"Up up up[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985050270","repostId":2280733761,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9985022661,"gmtCreate":1667272825953,"gmtModify":1676537889408,"author":{"id":"4117336023184202","authorId":"4117336023184202","name":"runningjames","avatar":"https://community-static.tradeup.com/news/3467c93ce8ec8c583f28f405e68f0c00","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"4117336023184202","idStr":"4117336023184202"},"htmlText":"Oh.. too fast cant figure out and sell on time&nbsp;[Sad]&nbsp;","listText":"Oh.. too fast cant figure out and sell on time&nbsp;[Sad]&nbsp;","text":"Oh.. too fast cant figure out and sell on time [Sad]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985022661","repostId":2280733761,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9985061022,"gmtCreate":1667270815967,"gmtModify":1676537888911,"author":{"id":"3579809773434763","authorId":"3579809773434763","name":"SalTheFun","avatar":"https://static.tigerbbs.com/69c72146aa04d3efddd999f936505379","vip":1,"crmLevel":8,"crmLevelSwitch":1,"authorIdStr":"3579809773434763","idStr":"3579809773434763"},"htmlText":"Yeah&nbsp;","listText":"Yeah&nbsp;","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985061022","repostId":2280733761,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9985060910,"gmtCreate":1667270295430,"gmtModify":1676537888796,"author":{"id":"3564105303063302","authorId":"3564105303063302","name":"ALi_BaBa","avatar":"https://static.tigerbbs.com/d89722c800111c9c885624fce940701f","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3564105303063302","idStr":"3564105303063302"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/9985060910","repostId":2280733761,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104606485,"gmtCreate":1667275909562,"gmtModify":1667275922972,"authorId":3577182936341023,"author":{"id":3577182936341023,"idStr":"3577182936341023","authorId":3577182936341023,"name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.06.11","exceedPercentage":"93.09%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9985060910,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\"><span class=\"Apple-converted-space\"> </span>1 day quick profits</span>","text":"<span class=\"s1\"><span class=\"Apple-converted-space\"> </span>1 day quick profits</span>","html":"<span class=\"s1\"><span class=\"Apple-converted-space\"> </span>1 day quick profits</span>"},{"id":104606143,"gmtCreate":1667274252961,"gmtModify":1667274266437,"authorId":3581990957315863,"author":{"id":3581990957315863,"idStr":"3581990957315863","authorId":3581990957315863,"name":"newminted","avatar":"https://static.tigerbbs.com/f7fb0ce2c2c4a88e9708e5c7eaf6cfbf","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9985060910,"type":1,"supId":104605647,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":104605647,"gmtCreate":1667271824539,"gmtModify":1667271837281,"authorId":3586429646894350,"author":{"id":3586429646894350,"idStr":"3586429646894350","authorId":3586429646894350,"name":"IcyAlchemist","avatar":"https://community-static.tradeup.com/news/70287be4fce2077caea2b6d320a924aa","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9985060910,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>"},{"id":104605459,"gmtCreate":1667271213631,"gmtModify":1667271226905,"authorId":3581818660716464,"author":{"id":3581818660716464,"idStr":"3581818660716464","authorId":3581818660716464,"name":"kxkee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9985060910,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">ok</span>","text":"<span class=\"s1\">ok</span>","html":"<span class=\"s1\">ok</span>"}],"langContent":"EN"},{"id":9985084925,"gmtCreate":1667269905168,"gmtModify":1676537888700,"author":{"id":"3577932802175472","authorId":"3577932802175472","name":"Polited","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3577932802175472","idStr":"3577932802175472"},"htmlText":"Why call it \"Limit Up Limit Down\" when it only limits up?&nbsp;[LOL]&nbsp;","listText":"Why call it \"Limit Up Limit Down\" when it only limits up?&nbsp;[LOL]&nbsp;","text":"Why call it \"Limit Up Limit Down\" when it only limits up? [LOL]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985084925","repostId":2280733761,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":36,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2280733761"}