GameStop ($GME) stock prices are falling steadily, Bloomberg reports. It was fun while it lasted, but it's finally time to pull out.
GAMESTOP STOCK PRICE IS CRASHING, AND IT'S TIME TO MOVE ON
The story of middle-class gamers sticking it up on the big man on Wall Street was an amusing and somewhat inspirational one. However, the dreamy situation isn't going to have a fairy tale ending. This pipe dream is now coming to its end as GameStop prices are now falling.
Sure, the stock price now is still higher than before when Reddit hasn't entered the picture yet. But the trends show that the price is going down, and it doesn't look like it's stopping anytime soon. Thus, it's advisable for anyone interested in making a buck out of this to pull out now. There's a possibility that the trend will continue to drop, allowing short-sellers to buy the stocks again and normalize the market.
MARK CUBAN GIVES HIS OPINION
GameStop and r/WallStreetBets have captured the attention and imagination of millions all over the world. However, not even the endorsement of tech mogul Elon Musk can save this movement. Pundits say and signs show that it's all downhill from here. However, Dallas Mavericks owner Mark Cuban has a different take, saying:
“I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB,” says Cuban. “I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again.”
With this tragic turn of events, we now wonder how that Hollywood film will give this tale its own twist. Perhaps it's not too late yet to scrap the whole idea? On the other hand, who knows? Maybe the Reddit hivemind still has one more trick up its sleeve.
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