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Today's Biggest Movers: GameStop, SoFi, Pfizer, and More

The hottest meme trade of 2021 continued to grab the stock market’s attention. GameStop (GME) traded above $45 earlier this month. It continues to hold an uptrend pattern. More recently, $30 became the resistance price.

GME stock lost 16.5% to close at $25.46. Markets are watching what Roaring Kitty, or Keith Gill, will do with his 120,000 call options that expire on June 21. The strike price is $20, giving the option over $60 million in value if exercised.

SoFi (SOFI), a fintech, is in the early phases of an uptrend. The stock traded as low as $6.75 on June 4, 2024, and as high as $7.37 on June 12. The government’s loan of $7.7 billion forgiveness for public service workers hurts SoFi’s loans business. Despite the challenge, Sofi expects strong growth in the financial services sector. It will focus on expanding its product offering. This will increase its EBITDA margins by 2026.

When Pfizer (PFE) failed to break out above $30.00, selling pressure mounted. The drug manufacturing giant reported its Duchenne muscular dystrophy gene therapy failed in phase 3 trials. Pfizer’s research and development unit suffers from poor productivity. It has plenty of drugs in the pipeline, yet few of them succeed. When drugs do not make it to market, Pfizer cannot replenish its sources of revenue.