GME Stock News: GameStop Corp edges higher as SEC readies meme saga report

NYSE:GME gained 0.82% on Friday during October’s first trading session.
The SEC is getting ready to release its report on the short squeeze saga.
A new survey shows that retail investors have no clue about stock research.

NYSE:GME is once again at the center of headlines on Wall Street, but this time the stock price has been mostly unaffected. In fact, since its last small surge in June alongside AMC (NYSE:AMC), GameStop largely hasn’t been acting like a meme stock at all. This could have to do with the stock being added to the Russell 1000 small-cap index back at the end of June. On Friday, to kick off the fourth quarter of 2021, shares of GameStop gained 0.82% and closed the session at $176.91. GameStop shareholders are ready to put September behind them as the stock lost over 17% during the past month.

Stay up to speed with hot stocks' news!

The short squeeze saga from January simply will not go away, but thankfully for shareholders, GameStop shares aren’t paying the price this time. The SEC is preparing to release its report on the meme stock saga, and the results could forever change the way brokerages, market makers, and investors interact with each other. At the top of the list of things that will be addressed is the gamification of investing with zero-dollar fees for trades, payment for order flow, and short selling disclosures.

GME stock forecast

A recent Survey Monkey survey has some shocking and revealing data about how retail investors are approaching the stock market. Nearly 40% of investors who started trading in 2020 or later, rely on social media platforms like Twitter (NYSE:TWTR) or Reddit to choose which stocks to buy. This is compared to only 12% of people who started investing before 2019. It seems as though the meme stock phenomenon has super charged investor reliance on discussion forums, rather than through individual research.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.