The meme mob has moved on. GameStop (NYSE: GME) is no longer the tug-of-war between evil hedge funds and noble cage-rattling masses, if that was ever even the case. Thursday was as pedestrian a day of trading activity for GameStop as we’ve seen in nearly a month.
Less than 13 million shares of GameStop traded hands on Thursday, the video game retailer’s lightest volume since Jan. 12. Remember that crazy time in late January when the stock traded more than 177 million shares for three consecutive trading days? This is the calm after the storm. Even the stock’s move on Thursday — slipping a mere $0.10 or 0.2% on an equally ho-hum market day — is just blending into the background. It’s wearing camouflage, but not because it’s ready to battle.
It was a wild ride, and depending on when you hopped on the spaceship you’re either really up or really down on the stock right now. Is GameStop the stock that has wrecked your portfolio by plummeting 89% since peaking two weeks ago? Is GameStop the life-altering wealth creator that’s nearly a 20-bagger off its 52-week low? No matter where you started — and no matter where GameStop’s been — things are moving at a different speed now. Unless you’re a speculator hoping to cash in on short-term volatility you should be fine with sleepy out-of-the-limelight GameStop. There are far worse things than owning a boring stock again.