GameStop, AMC, Blackberry, Bed Bath & Beyond extreme trading profit and loss
The stock drop of GameStop, AMC, Blackberry and Bed Bath & Beyond was worst ever Thursday
When popular trading app Robinhood on Thursday decided to suspend trading in several hot stocks, "Mom and Pop" investors flipped their lids as other trading venues followed Robinhood's lead.
TRADING APP ROBINHOOD BLOCKS USERS FROM BUYING GAMESTOP, OTHER HIGH-FLYING STOCKS
Many, including Barstool Sports Founder Dave Portnoy, took to social media to slam the trading app. In an early morning Tweet saying "I will burn @RobinhoodApp to the ground if they shut down free market trading."
Other angry souls even protested outside the app's headquarters in Menlo Park, CA in the afternoon. Members of Congress promised investigations and the lawsuits rolled in.
ROBINHOOD HIT WITH RASH OF LAWSUITS AFTER TRADING SUSPENSION
After the close of trading Robinhood CEO Vlad Tenev, on Twitter, acknowledged, the unprecedented attention the move garnered, but also noted the firm will resume some trading in these names on Friday.
“I want to thank everyone for their patience and support. While today’s developments are not new, they are never easy...” he said. "Starting tomorrow, we plan to allow limited buys of these securities. We'll continue to monitor the situation and make adjustments as needed."
The chain of events on Thursday may make some sense if you look at the profit and loss some of these battered stocks produce. Retail investors have made a lot of money buying and selling and Thursday’s action also produced heavy losses as well. That's how free markets work.
FOX Business crunched some of the numbers with the help of the Dow Jones Market Data Group.
GameStop
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 29.05 | -1.84 | -5.96% |
The video game retailer's 44.29% drop was the largest percentage decrease on record. Still, the 927.6% month-to-date rally is on pace for best month on record.
AMC Entertainment
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 5.04 | +0.09 | +1.82% |
Thursday saw the largest percentage decrease on record, 56.6%, yet investors still have a +307% month-to-date gain, the best on record.
Blackberry
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BB | BLACKBERRY LTD. | 2.56 | -0.01 | -0.39% |
The messaging device maker's 41.6% tumble is the second-worst drop on record but shares are still on pace for the best month on record with a 120.97% advance.
Bed Bath & Beyond
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| bbby | NO DATA AVAILABLE | - | - | - |
The home goods retailer took a 36.4% bruising Thursday, the worst on record. For the month, investors are in the money with an 89.4% rally.
Nokia:
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NOK | NOKIA OYJ | 4.20 | +0.01 | +0.24% |
The telecom provider got nailed with a 28% drop, the largest percentage slide on record. For the month, though, its 19.95% gain is the best since February of 2018.
For context, the interest in these names is huge pushing total composite trading volume, which includes the NYSE, Nasdaq, NYSE American and NYSE Arca, to the 2nd largest volume day this year with 19,420,046,234 shares trading hands.
On Wednesday volume topped 23,089,156,843 the largest day of 2021 and the strongest since at least May 28, 2019.