GameStop June 3 Trade was Unprofitable for Most Traders
Recent headlines (June 3, 2024) surrounding GameStop (GME) heralded a twenty plus daily percent surge in the stock price after Keith Gills posted a screen shot of his huge positions in the stock and its call options. The stories about the surge implied that it was a great day for GME traders, but the downside trend of prices throughout the day made most buy and sell returns for the day unprofitable.
3D Chart of All Buy any Sell Returns
The following 3D chart of buy and sell percent returns for June 3 uses 192 5-minute price intervals for extended hours and regular market session trades from 4:00 to 19:55.
For that 16-hour period there were 18,336 buy and sell percent returns. Only 3,966 (21.63%) buy and sell returns made money (green areas) and 14,370 (78.37%) lost money (red areas). The ratio of unprofitable returns to profitable returns was 3.62.
The largest gain for the day 14.12% and the largest loss was 39.25%. The average return was a loss of 12.96%.
Important Lesson
Headlines do not always tell the whole story about a stocks daily performance.
See GameStop June 3 - June 7 Returns Were Volatile.
See GameStop June 3 - June 14 Unprofitable Returns Outnumbered Profitable Returns.
See GameStop June 3 - June 21 Unprofitable Returns Outnumber Profitable Returns 2 to 1.