Honestly, if you were anywhere near a computer in early 2021, you remember the absolute chaos. It wasn't just about video games or a dying mall brand; it was a full-blown cultural glitch. People who didn't even know what a "limit order" was were suddenly checking their phones every thirty seconds. Everyone wants to know the same thing: how high did GameStop stock go during that madness?
The short answer is $483. That was the intraday peak on January 28, 2021. But that number is kinda misleading because the company has since split its stock. If you look at a chart today, you won’t see $483. You’ll see a much lower "split-adjusted" number.
Let’s get into the weeds of what actually happened, why the numbers look different now, and why the "squeeze" still haunts Wall Street today.
The Peak: Breaking Down the January 2021 Numbers
When we talk about the height of the frenzy, January 28, 2021, is the day etched in history. In the pre-market hours of that Thursday, the price actually tickled $500. It was insane.
✨ Don't miss: Icelandic Krona to UK Sterling: What Most People Get Wrong About This Exchange
To put that in perspective, at the start of that same month, the stock was trading at about $17.25. In less than 30 days, it went up nearly 3,000%.
Why the chart looks "wrong" now
If you pull up a 5-year chart for GME today, you’ll notice the peak doesn't say $483. It looks like it hit around $120. No, your memory isn't failing you.
In July 2022, GameStop performed a 4-for-1 stock split. More recently, in October 2025, they did another minor adjustment—an 11-for-10 split. Because of these, historical prices are mathematically dragged down so the chart stays "continuous."
- Original Intraday High: $483.00
- Post-2022 Split (4-for-1): $120.75
- Today's Split-Adjusted High (Post-2025): Approximately $109.77
Basically, if you bought one share at the very top for $483, you’d now have 4.4 shares, but the value of that position at the peak remains the historical benchmark for how high did GameStop stock go.
What Triggered the Squeeze?
It wasn't just a bunch of people liking the stock. It was a perfect storm of math and spite.
A few hedge funds, most notably Melvin Capital, had bet heavily against GameStop. They "shorted" it, meaning they borrowed shares to sell, hoping to buy them back cheaper later. The problem? They shorted more than 100% of the available shares.
When users on the r/wallstreetbets subreddit, led by figures like Keith Gill (known as Roaring Kitty or DeepFuckingValue), realized this, they started buying. As the price went up, the short sellers were forced to buy shares to cover their losses, which pushed the price even higher. This is the "short squeeze" in a nutshell.
🔗 Read more: The Real Difference Between Money and Currency: Why Your Wallet is Lying to You
[Image showing the mechanics of a short squeeze: short sellers buying back shares to cover losses, driving price up further]
The "Buy" Button Disappears
The reason the stock didn't go even higher than $483 is one of the most controversial moments in market history. On that fateful Thursday morning, several retail brokerages—most famously Robinhood—restricted trading. They literally disabled the "Buy" button for GameStop and other "meme stocks" like AMC.
The stock price crashed almost instantly after that. It dropped from that $480+ range down to the $120s within hours because retail investors could only sell, not buy. It was like a game of musical chairs where the music stopped and half the chairs were set on fire.
The 2024 and 2025 Resurgences
If you thought GameStop was a one-hit-wonder, you haven't been paying attention. The stock has had several "aftershocks" that were massive in their own right.
In May 2024, Keith Gill suddenly posted on X (formerly Twitter) after a three-year silence. A simple image of a gamer leaning forward in a chair was enough to send the stock soaring 118% in a single day. It hit an intraday high of $64.83 (split-adjusted) that week.
Fast forward to 2025, and we saw more volatility. While the price didn't reach the $400+ heights of the original squeeze, the company used these spikes to raise cash. They sold millions of new shares into the market, padding their bank account with billions of dollars. This actually changed the "fundamental" story of the company—it’s no longer a retailer on the verge of bankruptcy, but a company with a massive pile of cash and a very uncertain plan for what to do with it.
Lessons for the Average Investor
Look, chasing the "next GameStop" is a great way to lose your shirt. Most people who ask how high did GameStop stock go are looking for that same lightning in a bottle. But the 2021 event was a "black swan"—a rare occurrence that the market has since tried to build defenses against.
If you’re looking at GME today, here are some real-world takeaways:
- Volatility is a Double-Edged Sword: You can make 100% in a day, but you can also lose 50% in an hour. If you can't stomach seeing your account balance drop by half while you're eating lunch, this isn't for you.
- Splits Matter: Always check if a stock has split before looking at historical "highs." It’ll save you a lot of confusion when your app shows a different number than a news article from three years ago.
- Community Sentiment is a Real Metric: In the age of social media, "hype" is a measurable force. It doesn't always reflect the value of the stores or the sales, but it moves the price.
Practical Next Steps
If you're still holding GME or thinking about jumping in, your next move should be looking at the Company's Quarterly Filings (10-Q). Forget the memes for a second. Look at how much cash they have versus their debt. As of early 2026, the company's "floor" is largely determined by the cash value on its balance sheet.
👉 See also: Current Price of 1 Gram of Gold: Why the $148 Mark is Just the Beginning
You should also keep an eye on short interest data through sites like Ortex or S3 Partners. While it’s nowhere near the 140% levels of 2021, high short interest still creates the potential for rapid, violent price movements. Just remember: the "buy button" incident showed us that the house usually has a way of protecting itself when things get too wild.
Disclaimer: I’m a writer, not your financial advisor. Investing in high-volatility stocks like GameStop carries significant risk. Only play with what you can afford to lose.