$GameStop(GME)$Case in point: Between March and May of this year, at the height of the market downturn, GME stock fell 57%, far outpacing the 20% loss of theS&P 500index and the 30% decline of theNasdaq.
Of course, big runs up and down are nothing new for GME stock, which tends to rise and fall in sympathy with other meme stocks. GameStop’s share pricerecently fell nearly 10%after fellow meme playBed, Bath & Beyond(NASDAQ:BBBY) dropped more than 40% on news that the activist investor Ryan Cohen, who is chairman of GameStop, sold his entire stake in BBBY.
GameStop also continues to issue disappointing earnings reports and is having a difficult time making the switch from a brick-and-mortar retail chain to a primarily online retailer of video games and related products. This is not a stock investors want dragging down their portfolios during a Black Swan Event.
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