Plunging GameStop Shares Test the Will of Investors to Stick With the Ride

Plunging GameStop Shares Test the Will of Investors to Stick With the Ride

GameStop vs. Wall StreetCharting the Wild Stock SwingsWhat's GameStop Really Worth?Your TaxesReader's GuidePlunging GameStop Shares Test the Will of Investors to Stick With the RideAfter a crazy run-up, the price dropped 72 percent over two days, putting it just 18 percent higher than it was at the start of last week.A Los Angeles store in the GameStop chain, whose share price at the end of trading on Tuesday was $90, down from $483 early Thursday.Credit...Philip Cheung for The New York TimesBy Matt Phillips, Gillian Friedman and Taylor LorenzFeb. 2, 2021, 6:03 p.m. ETGameStop, amateur investors like to say, is going to the moon.With Reddit commenters urging one another to hold their shares with unbreakable “diamond hands,” these investors have insisted that the struggling video-game retailer's stock is about to soar even higher than last week's spike.But another big drop on Tuesday — GameStop's shares have fallen 72 percent over the last two days — is testing their stomachs.Tigran Avetisian, 30, a chemical engineer outside Boston, put about $40,000 into GameStop in the past two weeks, including $20,000 from his individual retirement account when the price was $275 a share. He's down $10,000 after Tuesday's plunge.“For a little while, it was