The volatility in shares of GameStop Corp. has been widely reported, but just how volatile they’ve been this year truly boggles the mind. I found this gem in their annual report, which was just released this week:
…from January 11, 2021 to March 17, 2021, the closing price of our Class A Common Stock on the NYSE ranged from as low as $19.94 to as high as $347.51 and daily trading volume ranged from approximately 7,060,000 to 197,200,000 shares. During this time, we have not experienced any material changes in our financial condition or results of operations that would explain such price volatility or trading volume.
In just two months, shares varied by a factor of 17 and volume by a factor of 28, all with no news from the actual business!
Any shares that volatile are best avoided, in my opinion. Maybe you time it right, but very probably you don’t.
For more on GameStop, check out these posts:
- GameStop Sales Down 40% in 2 Years
- Top GameStop Executive Resigns Suddenly
- GameStop Has Failed to Modernize Before. This Is What Happened.
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Photo: “Huge Wave” by Duncan Rawlinson – Duncan.co is licensed under CC BY-NC 2.0