We are officially at the half-way point for this month’s Stock Challenge… and compared to February, March has seen a dip in contestants yielding positive returns — 241 of 448 are currently in the green. While it was Forwardly that sent a few contestants to the top of the leaderboards last month, this time its Gamestop (GME: NASDAQ). Eight of this month’s Top 10 contestants have benefitted from GameStop’s recent rally.
Although Gamestop has rewarded many players thus far this month, cracks may be forming…
“GameStop stock dropped suddenly Monday morning, prompting a brief halt due to volatility. The stock fell wider than 15% to as low as $223.00, bounced back, and then fell even lower.”
Readers may recall that we recently wrote about the possibility of increased volatility due to market euphoria (a phenomenon that is on full display with Gamestop).
Finally, despite all of the investor attention on Gamestop and crypto-related stocks so far in March, the #1 performing stock in this month’s contest is a natural gas producer, Trillion Energy International. Currently, first place member ‘MIC’ is leading with Trillion Energy and another natural resource stock, Kootenay Silver.
The Stock Challenge Index (SCI) is sitting at 3.41% — a fraction of what it was at the same time last month (approximately 26%)! The SCI tracks the average return of every contestant in the challenge for any given month.
Last but not least, don’t forget to sign up for April’s Stock Challenge when you have a moment. While there’s still plenty of time, we’d hate to see you miss out on a chance at winning silver bullion and Pinnacle Digest apparel!