GameStop shares are about to get much cheaper

Several Big Tech companies also have recently announced stock splits to help boost affordability. Amazon’s 20-for-1 split went into effect in June. Alphabet, which owns Google, also recently announced a 20-for-1 split. And Teslaannounced a 3-for-1 split in June.

GameStop, like other meme stocks, is having a rough 2022. The stock plunged earlier this year, although it has battled back a bit recently. Many short sellers — investors who borrow shares and sell them in hopes of buying them back at a lower price — continue to bet big against these meme stocks, including GameStop and AMC. It’s a risky strategy, though. If a shorted stock goes up from the price the short seller purchased it, the investor can lose a lot of money.