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Blast From the Past: Atari’s Comeback on NFT Mania in Peril

  • Penny stock has been on a rollercoaster after 120% surge
  • Atari came off three-year high, volume has slowed down
Atari 2600
Atari 2600Photographer: Robee Shepherd/Moment Editorial/Getty Images
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The bloom may be off the rose for a 1980s mainstay that more than doubled earlier this month after getting caught up in the meme stock mania.

Retail investors recently flocked into Atari SA as the entertainment software company announced plans for a foray into the online-casino market. But the frenzy to own the French penny stock that trades over-the-counter in the U.S. has died down after soaring more than 120% in March. The shares came off a three-year high hit earlier this week, and volume -- while still elevated -- has also been reduced.