GameStop Corp. Cl A Slips 2.69% as Stock Market Declines
The stock market experienced a rough trading session on Friday, with GameStop Corp. Cl A slipping 2.69% to $14.12. The S&P 500 Index fell 0.48% to 5,005.57, and the Dow Jones Industrial Average fell 0.37% to 38,627.99.
Ending a two-day winning streak, GameStop saw a decline in its shares, now sitting at $13.53 below their 52-week high of $27.65, which was reached on June 13th.
Comparatively, GameStop underperformed its competitors on Friday. Apple Inc. fell 0.84% to $182.31, AT&T Inc. fell 0.70% to $16.97, and Best Buy Co. Inc. fell 1.21% to $73.75.
Trading volume for GameStop was 2.3 million shares, below its 50-day average volume of 4.6 million shares.
Analyst comment
Negative news. The decline in GameStop’s stock, along with the overall market, suggests a bearish sentiment. The underperformance compared to competitors also indicates weakness. Market is expected to remain cautious in the near term.
