Pachter said about 90% of GameStop’s stock is still owned by retail investors — non-professionals who still plumb the depths of Reddit threads for financial advice. Meanwhile the company’s stock price has dropped more than 60% from it’s 2021 peak.

Videogame retailer GameStop reported a decline in first-quarter revenue on Tuesday as customers increasingly opted for digital downloads over purchases at its brick-and-mortar stores, sending its shares down 4.

In 2021, a movement led by retail investors to rapidly buy GameStop shares caused the stock to soar, creating a short squeeze, and short sellers rushed to buy the stock to cover their positions. All this led to meteoric gains and then sharp declines for the shares.

A GameStop damaged Nintendo Switch 2 displays after stapling receipts to the boxes, but buyers will receive replacements.

Which brings us to May 24, when Tim called his mother from someone else’s phone saying he thought his iPhone was stolen. Marty Michalak was able to track the phone, and saw it was at a GameStop in Bridgewater. After a little cajoling, Tim said he sold the phone to the store for $196.32.

If you have a Facebook account and purchased something from GameStop in the past, the store may owe you money.