When the markets closed at 4 p.m., GameStop settled around $197 - after closing Wednesday around $345.ĭespite the turbulence, however, the Dow Jones Industrial Average and S&P 500 both finished up by about one percent. The tumult began when financial advice YouTuber Roaring Kitty encouraged amateur traders, many associated with the Reddit forum r/WallStreetBets, to pump money into ebbing companies like video game retailer GameStop, in a shot across the bow at large hedge funds shorting the businesses.Īmid the market turmoil, the store’s stock jumped violently Thursday from a peak of $482.85 to a valley of $112.25, a wild swing of $370.60 in a matter of hours. Wall Street’s wild ride amid a Reddit-fueled GameStop boom continued Thursday, as the renegade traders behind it boosted other businesses, including American Airlines, online trading platform Robinhood froze some transactions and short-sellers reported about $70 billion in losses so far this year.

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