Market Recap 5/28/2025: Shares of GameStop (GME) fell more than 12% on Wednesday following a surge to $35 on Tuesday after the Memorial Day weekend.
Price as of 9AM PST is currently at $31.58, down -9.80% on the day.
This decline follows a volatile period for the stock, which had surged earlier in the week, driven by speculative momentum and news of the company’s $500 million Bitcoin purchase.
The announcement, initially met with enthusiasm, appears to have triggered profit-taking and broader market dynamics, contributing to the sharp sell-off.
Posts on X indicate that the stock briefly spiked to $37.50 in pre-market trading before retreating, with some users attributing the drop to Bitcoin’s own price decline and broader market “fuckery.”
Community Sentiment on X
The X community has been vocal about GME’s volatility:
- @Swake183 noted the stock’s 6% drop after the Bitcoin announcement, highlighting disappointment among investors expecting a surge to $500, with technical analysis pointing to a breach below the 50-day moving average on the 15-minute chart.
- @Kidsmealstudios described intense pre-market action, with GME hitting $37.50 before falling back to a modest 1% gain, suggesting market manipulation to protect short positions.
- @DoriTradesIt observed a clean break of structure on the daily chart above $34.50 with high volume, but cautioned about overbought conditions as the stock traded outside Bollinger Bands, with potential targets at $46 or $60.
- @DRR4G3 predicted a potential bounce at $30, citing macro Fibonacci levels, while warning of further downside if support fails.
- @heyitspixel69 suggested the dip might stabilize soon, estimating a further 50-80 cent drop.
- @XclusiveTrading linked GME’s 7.66% drop from the open to Bitcoin’s decline, advising caution but noting $35.70 as a potential scalp opportunity.
- @Ryan__Rigg highlighted declining call option premiums and rising put premiums, indicating easing gamma pressure contributing to the downside move, with daily RSI showing overbought conditions.
- @Comedyorwat criticized the misunderstanding of GME’s Bitcoin strategy on other platforms, reflecting frustration with negative sentiment outside the X community.
The sentiment on X reflects a mix of technical analysis, speculation about market manipulation, and cautious optimism for a rebound, though the stock’s meme-driven volatility and external factors like Bitcoin’s performance continue to dominate discussions.
Always approach such posts with skepticism, as they may contain speculative or unverified claims.
Also Read: GameStop Now Soars To $35 on 32 Million Volume: $45 is Next
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Follow Frank Nez on X for more community insights.
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