Jun 11, 2024

Losses in GameStop (GME) shares have spread to meme tokens that tend to mirror the stock’s movements.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. GME ended Monday trading at $24.89 down 62% from a two year high of $61. Last Thursday, the losses spread to meme tokens that tend to mirror the stock's movements. The Solana based Meme Token GME which parodies the company slid more than 10% on the day related tokens like roaring kitty and other cat themed tokens lost an average of at least 5% according to data track by coin gecko. Ge stocks had skyrocketed since late May on retail trader Keith Gill's return for the first time since 2021 while gains were erased after Gaub said it would sell up to 70 million shares. And that's it for today's chart of the day. I'm Helene Brown in for Jen and Asi and we'll see you next time.

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