GameStop’s journey starting from 2021 to now
Last year, a group of amateur traders on Reddit started observing GameStop’s struggling stock. Later they determined that they had a chance to beat Wall Street.
They organized to pile into the stock and force the hedge funds to cover their losses.
The following mania in buying affected the stock to soar from $20 per share to over $400. As investors rushed to join this mania, it forced Robinhood to pause trading.
At the same time, GameStop’s rally seemed far from a sure thing for investors.
The amount of the return would have varied depending on several factors. It is important at what time of the day you invested or the day of the week.
GameStop shares are trading four times higher than before the rally, closing at $108.82 on Tuesday. However, it’s still entirely probable that if you invested at the peak, you would have lost a considerable amount of your money.
That’s why professionals strongly recommend against trying to time the market. Instead of predicting which stocks might grow in value or go down, consider buying low-cost funds and holding them. This type of diversified fund stays relatively stable and avoids ups and downs.
Here are details of GameStop’s journey
In this list, you can see how much money you would have now if you invested in this stock a year ago.
- 11, 2021
Price: $19.94
If you bought $1,000 worth of shares at the beginning of January, you would have a 446% return. Your $1,000 would now be equal to $5,461.
- 13, 2021
Price: $31.40
Two days later, it would still have gotten you a significant return.
A $1,000 purchase on Jan. 13 would now be $3,468.47.
- 22, 2021
Price: $65.01
If you invested at $65 a share on this day, your investment would now be equal to $1,675. From today’s perspective, it is an increase of 67.5%.
