GameStop Shares Closed 30% - A Big Move For All New Entrants

GameStop (GME) shares fell 30% on Monday 01 February, after a major contraction  on Reddit's WallStreetBets forum last month, fueled by retail investors. The "short-squeeze phenomenon" in stocks The Video Game retailer's stocks,  on  the national market,  gained attention and rose more than 1600% in January. WallStreetBets Reddit. The number of members of the community exceeded more than  8 million. On Monday, Robinhood - (Trading app) - increased the number of shares and option contracts for stocks which users can add. Thus, the number of GameStop shares Robinhood  users can buy increased to 20 on Monday afternoon.

In the restricted list they have published; There are also stocks of AMC Entertainment (AMC), Express (EXPR) and Koss Corporation (KOSS).

Actually the short jam legend; It was seen as a war between hedge funds and retail investors, who bet big against their equity value. Last week, hedge fund Melvin Capital closed its position on GameStop. That's why interest in GameStop fell from 115% to 39% in mid-January, according to IHS Markit. Last Thursday, values plunged 60% as Robinhood restricted GameStop share purchases throughout the day. Legislators and users reacted greatly on this. On the same day, a class action lawsuit was filed against the company. Vlad Tenev, CEO of Robinhood investment, later announced the easing of the restrictions and defended himself by denying the "conspiracy theory" that the restriction decision was made by the market maker or hedge fund. Tenev told Yahoo Finance that the transactions are all about the clearinghouse deposit requirements according to market dynamics and regulations. Silver (SI = F) prices rose 10% on Monday as Redditors' focus was targeting precious metal. Members of the forum said that Silver should not be contracted shortly in its efforts to increase the value of GameStop shares. Source: Yahoo Finance

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