NYSE is now reporting a GameStop price glitch after Friday’s closing bell where shares are reflecting differently than other sources.
Shares of GameStop (GME) finished Friday’s trading day at $23.42; however, there seems to be an imbalance according to surfacing data.
Retail investors are posting to X, formerly known as Twitter, screenshots of GameStop’s share price at $32.09 and $30.51.
“NYSE REPORTS $GME’S PRICE AT $32.09 ON FRIDAY AND SOME BROKERS SHOW AVERAGE PRICES AT ~30$ IF YOU BOUGHT FRIDAY
“Glitches” are back on the menu.
Hyped for next week.” said user @heyitspixel69 on X.
Because of the discrepancies, investors are now looking forward to a potential gap up matching these orders.
GameStop has recently begun to gain buzz again as the retailer continues to pivot during economic uncertainties.
The video game retailer announced that it is transforming some of its stores into “GameStop Retro” locations, focusing on older consoles and games for nostalgic players.
In an announcement on X, the company highlighted several iconic consoles, such as the Wii and Xbox 360, which have been overshadowed by newer models like the Nintendo Switch and Xbox Series X.
These retro locations will also offer a selection of classic games from popular franchises, including Pokémon, Mario Kart, Halo, and Grand Theft Auto.
GameStop has not disclosed how many stores will be designated as retro locations or whether this initiative will be a permanent change or a temporary promotion.
The news however is bullish, and retail investors and gamers alike are both excited for the new developments.
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Also Read: BlackRock Is Now Hit With 54 Counts of Securities Violations
Other Market News Today
Billionaire Mark Cuban has now scrutinized the SEC for only protecting Wall Street, stating “I wouldn’t trust them to do the right thing ever”.
During a Reddit ‘Ask Me Anything’ (AMA) in the WallStreetBets forum in February 2021, billionaire investor Mark Cuban expressed strong criticism of the U.S. Securities and Exchange Commission (SEC).
In a post from his verified account, Cuban stated, “The SEC is a mess.
I wouldn’t trust them to do the right thing ever.
It’s an agency created by and for lawyers to win cases rather than to act in the interest of investors.”
He further criticized the SEC for prioritizing Wall Street over the protection of everyday investors.
Cuban argued that if the SEC truly focused on investor safety, it would establish clear guidelines regarding insider trading and market manipulation.
Instead, he claimed, “they would rather litigate to regulate,” suggesting that the SEC prefers to develop rules through lawsuits, which leaves the public uncertain and favors Wall Street.
Today, the SEC remains under scrutiny.
Gary Gensler, the current chair, has been advocating for new regulations aimed at enhancing market transparency and protecting investors.
While these initiatives aim to tackle emerging risks, they have sparked controversy within the hedge fund and banking industries.
Critics argue that the new regulations can be overly complex.
The SEC chair has been unable to solve issues retail investors have been facing for decades now — much of which revolves around the manipulation of stock prices by hedge funds short on securities.
Mark Cuban’s criticism of the SEC underscores an ongoing debate regarding the agency’s role and effectiveness.
As the SEC works to adapt to contemporary financial challenges, its success will hinge on finding the right balance between enforcement and market facilitation.
Whether it can respond to retail investors and rebuild trust is still uncertain, but its efforts to evolve are essential for its future influence.
Also Read: Exposures At Hedge Funds Now Surge To Over $28 Trillion
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About The Author
The price has been wrong for a long time. How many FTD’s are acceptable? None is the answer. Swapping shares off the market for 5 months @ 50% is protecting whom?
There needs to be a complete system overhaul at this point — it’s way too corrupt.
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