Gamestop stock price plunged 72% over two days… Concerns about amplifying loss of Seohak ants

Gamestop store (New York Reuters = Yonhap News)

Gamestop store (New York Reuters = Yonhap News)

(Seoul = Yonhap News) Reporter Park Won-hee, Park Jin-hyung = In the U.S. stock market, GME stocks, which have emerged as a battlefield for individual investors and short-sell hedge funds, have recently plunged, raising concerns about massive losses for’Seohak ants’, who belatedly jumped in here.

According to the Korea Securities Depository on the 3rd, the total amount of GameStop stocks purchased by domestic investors through the KSD for three days on the 27th to the 29th of last month amounted to $96833 million (about 1.79 trillion won). It is estimated that there were not a few domestic investors who realized profits by selling GameStop stocks during the same period, exceeding the selling amount ($1,131.2 million).

However, many investors who did not sell after buying late during the sharp fluctuation of GameStop’s stock price at this time were bitten to the peak.

During this period, GameStop’s stock price surged 134.8% to $347.51 on the 27th (hereinafter based on the closing price/local time), then fell 44.3% to $193.60 on the 28th, and rebounded 67.9% to $325.00 on the 29th. Starting this month, it plunged 30.8% on the 1st and 60.0% on the 2nd, respectively.

In fact, on the 3rd, on the internet bulletin board related to stocks, there are articles from domestic investors who lament that they have lost a lot from their gamestop investment.

Several account’certification shots’ were also posted that said that nearly 80% of the principal was lost or even lost more than 100 million won.

Accordingly, it is pointed out that trading in GameStop stocks is still risky while articles are constantly being posted online, such as whether to buy more or sell more GameStop stocks.

A researcher at a securities company said, “It is true that neither individual investors, institutional investors in the United States nor anybody evaluates the gamestop basic conditions (fundamental) as good,” and said, “Because the investment base itself is poor, such high volatility. I think there is a high possibility of this appearing,” he said.

He added, “It is a good strategy for domestic investors to distance themselves from GameStop transactions as much as possible.”

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