Baird suspends GameStop stock coverage, citing continued Reddit influence and lack of company plan

A man looks at GameStop at 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images

Baird is throwing in the towel on GameStop coverage, saying speculative trading by retail investors makes it hard to give "reasonable" recommendations on the stock.

GameStop made headlines in January and earlier in June as individual traders flocking to Reddit's WallStreetBets forum rallied around the meme stock. The shares have surged more than 1,000% in 2021, though the stock has dropped about 6% this month.

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