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GameStop Corp (NYSE:GME) shares are down 1.5% to $20.97 this afternoon and have fallen 8.5% over the past week, even though there hasn’t been any recent news about the company. The broader market sentiment is recovering from recent lows, with major indices like the Nasdaq 100 and S&P 500 showing gains for the session.
When the overall market experiences volatility, stocks like GameStop, which are often influenced by speculative trading and investor sentiment, often see amplified movements. The CBOE Volatility Index (VIX) is also approaching pre-sell-off levels, indicating reduced overall market volatility.
Known for its extreme price swings, GameStop might still experience volatility due to its specific trading dynamics and investor behavior, even if general market volatility is coming back down to earth.
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GameStop’s stock became a focal point of speculative trading in early 2021 due to a short squeeze driven by retail investors on platforms like Reddit’s WallStreetBets. This speculative nature can cause extreme volatility, as price movements are heavily influenced by investor sentiment rather than fundamental business performance.
Recent moves lower in the broader market might lead to shifts in investor behavior, such as moving funds into or out of speculative stocks. If investors are nervous about economic conditions or market stability, they might be looking to reduce exposure to high-risk stocks like GameStop, leading to increased volatility.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in GameStop’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, GME has a 52-week high of $64.83 and a 52-week low of $9.95.
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Posted In: GME
