Algo's pushing GME price higher
Oh God GIF by DuroflexWorld
For those wondering why the dramatic move, this is simply algo's pushing the price higher. This is not a short squeeze nor is it an investor coming in and buying a stake in the company.
Retail investors that are buying GME are buying it consistently overtime, most have it setup to automatically purchase every month or bi-monthly from computershare.
So don't expect this price to rise this high without falling eventually over the next couple of weeks. Of course with earning coming next week, that could have a catalyst effect on the stock if Gamestop shows a profit and presents guidance, something they have not done for the last two years.
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