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IPFS News Link • Stock Market

GameStop Just Collapsed After Topping Record Close

•, by Tyler Durden

And AMC collapsed too

And as goes GME, so goes the entire market...Small Caps and Nasdaq are plunging

WallStreetBets sentiment is soaring in GME again

And thanks to that, GME is up 40% today, up six days in a row (the longest streak in six months) and just topped $347.51 - its record closing price!

It appears the meme-stock meltup is back...

"It looks like the second wave of bullish speculation has clearly kicked off," Ipek Ozkardeskaya, senior analyst at Swissquote, said by email.

He warned, however, that the recent corporate updates may not be enough to justify the stock's surge.

"Given the massive volatility in this stock, the risk is huge as the rally in the GME stock price is boosted by expectations of future growth, and is not based on concrete results for now."

Meanwhile, GameStop, at near $24 billion market cap, is now the biggest company in the Russell 2000, overtaking PLUG.