On Monday, Gamestop shares rose by more than 100 percent. picture alliance / ZUMAPRESS.com | Thiago Prudencio
Gamestop shares rose as much as 110 percent on Monday, according to CNBC.
The New York Stock Exchange halted trading in the meme stock several times, causing panic among investors.
We spoke to a 31-year-old investor about how he experienced the run. He was able to make a profit of 43 percent that day.
The madness is back: Gamestop shares have risen dramatically – and so much so that the stock exchanges could no longer track the development of the price. Trading in the share has even been stopped for a while.
The share price has risen by up to 110 percent on Monday CNBC has reported. This was triggered by a social media post by Reddit user Roaring Kitty, who was largely responsible for the hype surrounding Gamestop and its 30-fold price increase in 2021. Gill is an individual investor and former financial advisor who rose to prominence through his posts on Reddit. Gill regularly posted about his investments in GameStop, which inspired many other retail investors to also invest in the stock.
How a 31-year-old German made 2,200 euros in profit in one day
The German investor Jan Riesen wanted the opportunity (Name changed, real name known to the editors) seize. We spoke with him.
“This morning a friend wrote in a WhatsApp group at nine in the morning that the person responsible for the Gamestop run had posted something again,” he said in an interview with Business Insider. “I then looked for about a minute to see what the share price was today. I saw that it had already risen by 15 percent and I invested 5,000 euros.”
A big investment in a meme stock, very risky. The stock has risen extremely in a short time, Riesen wants to realize the profit, but that is not possible. “I was briefly affected by the fact that I couldn’t sell anything. This of course leads to a feeling of powerlessness and also panic, which spreads because I had invested at least 5,000 euros.”
Notification in the Trade Republic app. Private
Like many investors, he thought his trading app Trade Republic had suspended trading. The neobroker explains in a conversation with Business Insider that the company has not paused buying or selling the stock. This was a decision by Gamestop’s home exchange, the New York Stock Exchange, which stopped trading in the meme stock. According to the neobroker, this happened five times over the course of Monday until 5 p.m.
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However, Riesen was lucky and after a certain amount of time was allowed to realize his profits and sell the shares, he says. “I kept updating stop losses in the hope that I would take as much profit as possible.” He was able to set the automatic sell at a price that would allow him to make a profit if the price fell. “And ultimately the stop-loss order cashed out at around 43 percent plus and was realized.” His profit is around 2,200 euros (Business Insider got an insight into his portfolio).
“In the end, I was very happy that the stop-loss order was pulled and I was able to take the profit,” he says. “But it’s kind of worrying when you suddenly can’t access your money, even if it’s all virtual in the app.”
Regarding the entire rally in Gamestop shares, he says: “It’s kind of a joke. It’s fun to invest in it, but of course it’s also ridiculous.”
Disclaimer: Stocks and other investments generally involve risk. A total loss of the capital invested cannot be ruled out. The articles, data and forecasts published are not a solicitation to buy or sell securities or rights. They also do not replace professional advice.