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Blown by Elon Musk, GameStop's stock price flies up to 1000% more!

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Maybe gamers are familiar with the name of a GameStop company. Yup, the company is a video game retailer in America he is also the father of Game Informer, which is a provider of video game articles and magazines in America.

We are now officially on the platform Tiktok! Follow our Tiktok account at @gamebrott.com to find various information and our other interesting video content.

Need to know, this company began to open investment facilities to the public starting on February 5, 2002 at a price of 10 USD (140,000 Rupiah) per share. Now, the company’s share price has skyrocketed to 347 USD (4.85 million Rupiah) per share.

Launching from Tweaktown, the increase was caused by the gamestop meme created by retail investors (investors with small capital). Retail investors at Wallstreetbets agreed to use shares of the gamestop company to buy the near-bankrupt stock. In addition, the massive purchase of shares was also triggered by the news that Ryan Cohen, the former CEO of Chewy, will join GameStop’s board of directors. With it, investors and gamers hope he can improve GameStop’s management and market.

Not only that, this is also supported by Elon Musk’s tweets who participated in increasing the value of shares. Of course a bookie like Elon Musk will not be half-hearted in buying shares, the funds spent are potentially very large which can cause shares to rise. Even the positive sentiment given by Elon Musk also encouraged other investors to buy Game Stop shares. And not a few gamers also bought the stock after the tweet about the trending gamestop stock.

Even so, it seems like a company like GameStop is not a good idea for a long-term investment. Because when viewed from the fundamental potential of the company, it is still quite weak if the share price can last for a long time. What is clear is that drastic price declines can occur due to high selling power pressure.

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