LONDON (Reuters) – Frankfurt-listed shares in retail trader darlings such as videogame store GameStop and cinema operator AMC Entertainment fell in early trade on Thursday.
Shares of GameStop, which fell to $89 in after-market U.S. trade on Wednesday, were down 12.1% to 79.20 euros ($95.09).
AMC Entertainment, which settled at $8.60 in aftermarket trade, fell 8.6% to 7.45 euros ($8.94). Nick Note: Its really sad and comical to watch. The millennials are jerking themselves off with candle sticks and chart patterns like Fibonacci (a simple sequencing system from the 1100AD) and other jokes to try and figure out how low it can go. They bought these stocks on a short squeeze a game they did not understand and are not equipped to play. And were ill advised. As the stock price went higher they borrowed against the profitable shares they held to by more and more and more. Instead of realizing they are not smart but got lucky they rode it all the way up making their break even price higher and higher… and they are now booking massive losses while in their chat rooms jerking themselves off that the price will go back up. The real danger here is as they wipe out they will take their brokers down with them. I have made far more money on the short side. But you really really got to know what you are doing.