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GameStop stock has defied gravity in the past and it could again, but there are some signs its stock may be topping out, some strategists say.
GameStop was down sharply Monday, off more than 30% at $225.
It has been the poster child of a group of stocks shorted by hedge funds but snapped up by small investors who helped drive share prices higher.
The price rises even more when hedge funds are forced to buy the stock to cover short positions.
GameStop has had a wild ride. It surged to an all time high of $483 last week but appeared to run out of steam Monday, falling well below its Friday close of $325.
The stock closed at $17.25 on Jan. 4, the first…