The year 2020 was a roller coaster ride for Gamestop stock prices. At the beginning of the year, the stock prices of the company were at an all-time high, only to see a sharp decline in the later part of the year. This article aims to provide a brief overview of what happened to the stock prices of the video game retailer during 2020.
The Highs of 2020
At the beginning of the year, the stocks of Gamestop were trading at $13.75, the highest price ever for the company. This was largely due to the fact that the company had recently launched a new line of video game consoles, which were selling well. The company was also doing better than expected in terms of sales. This was reflected in the stock prices, which kept rising steadily.
The Lows of 2020
Unfortunately, the good times did not last forever. In the second quarter of 2020, the stock prices began to decline sharply. This was mainly due to the fact that the video game industry was facing some tough times. With the release of the new generation of consoles, there was a decrease in demand for the older ones. This meant that the sales of Gamestop had started to decline.
The Plunge of 2020
By the third quarter of 2020, the stock prices of Gamestop had plummeted to an all-time low of $3.82. This was due to a number of factors, including the decline in sales, the competition from other retailers, and the overall decline in the industry. This was a difficult time for the company, and many investors had lost faith in the company’s stock.
The Rebound of 2020
Fortunately, the stock prices of Gamestop bounced back in the fourth quarter of 2020. This was mainly due to the fact that the company had managed to turn things around. They had managed to launch a new line of video game consoles, and the sales had begun to pick up. This was reflected in the stock prices, which rose to $7.50 by the end of the year.
Conclusion
Overall, 2020 was a roller coaster ride for Gamestop stock prices. At the beginning of the year, the stock prices were at an all-time high, only to see a sharp decline in the later part of the year. Fortunately, the stock prices managed to rebound in the fourth quarter of 2020, and the company managed to turn things around. As of now, the stock prices of Gamestop are trading at around $7.50.
