GameStop stock pulls back, in danger of snapping longest win streak in 18 months
Shares of GameStop Corp. sank 5.8% in morning trading Thursday, putting them on track to snap the longest win streak in more than 18 months. The videogame and consumer electronics retailer's stock had skyrocketed 80.5% over the past seven sessions to closed Wednesday at the highest price since Jan. 4, including a 49.7% run up the past two days amid renewed investor interest in meme stocks. That would be the longest win streak since the eight-day stretch of gains that ended on Sept. 3, 2020. The stock has now shed 10.5% year to date, while fellow meme stock AMC Entertainment Holdings Inc. has tumbled 27.2% and the S&P 500 has slid 5.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.