Video game retailer GameStop Corporation (GME) in Grapevine, Tex., made headlines last year as retail investors triggered a first-of-its-kind short squeeze. The stock rallied more than 1,625% in January 2021, officially kick-starting the “meme craze.”
However, various macroeconomic headwinds, surging volatility, and extended market weakness caused GME to retreat since, declining 9.1% in price over the past year. Investors have been looking for relatively safe investment bets amid the volatile market. Over the past six months, GME shares have plummeted 13.8% to close yesterday’s trading session at $151.95.
