Following a tough year, many of us had spent time looking for ways to diversify our income options and explore other ways of making a little extra – there have been a huge number of different options explored throughout this period of time whether it be an increasing number of people turning to platforms such as online gaming as here are some non gamstop casinos that have grown in popularity for example, or even those looking for another gamble as they turn to retail trading and the stock market as another way to make money. This is certainly a space that has hit the headlines too, with the rapidly growing Reddit community of WallStreetBets making news with a direct challenge to some of the biggest established names on Wall Street itself, and whilst there have been a number of stocks that have become the target of this, GameStop is certainly the biggest.
The change had come as a challenge to the short position taken by Wall Street, and it saw the GameStop position change from around $20 per share, all the way up to $400 per year, and back down once again in a bit of a rollercoaster ride for all of those aboard and has been up and down ever since. Many have been looking for the moment where big change could be on the way, and it seems that time has come as the unending GameStop drama has thrown another wrench in the works – this comes as a recent announcement made suggests that GameStop will be paying off the entirety of their existing debt of $216.4 million which had initially been aimed at for 2023, and may perhaps lead to another big change that could have a wider impact on the stock market.
(Image from Bloomberg.com)
Since the announcement, some have taken a bit of a detective dive into the possibilities from this with a potential explored that the clearing of debt could mean there may be dividend options available moving forward which could mean a changing position on those current holding shorts with the need to cover that position – this change could lead to a huge adjustment in prices on the market once again, and could be a huge turning point for those holding out waiting for the price to increase.
Whatever happens is certainly an interesting situation as a whole, and this won’t be the end of whatever drama comes from the ongoing changing market too – for many who have bought in to not only GameStop but many of the other big stocks too such as AMC, this could be a long haul type of deal as many have since buckled up to see it through as far as possible – and with ongoing investigations into the entire retail trading set-up and how the platforms had handled the current market too, there could be big changes on the way for retail trading as a whole to perhaps be more in favour of the customers given the troubles found earlier this year.