By Aaron Saldanha, Thyagaraju Adinarayan and David Randall (Reuters) - GameStop Corp shares shot higher Thursday after doubling in the previous session, triggering a series NYSE trading halts and leading a surprise resurgence of so-called stonks, as passionate retail investors have dubbed their favorites on various online forums. GameStop shares hit $160 at the open before being halted after several minutes of trading and fell to around $129 before the second halt. The stock resumed trading around 10 a.m. Eastern and hovered around $143 in late morning trade, up 56%. The rally lifted other stonks popular on sites such as Reddit s WallStreetBets, with AMC Entertainment Holdings Inc up 12.5% and headphone company Koss Corp up nearly 61%.
GameStop s Reddit-driven roller coaster rages after Tweet, Citron report
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GameStop shares soars around 50% as meme stocks rally again
By Aaron Saldanha, Thyagaraju Adinarayan and David Randall
Reuters
(Reuters) - GameStop Corp shares shot higher Thursday after doubling in the previous session, triggering a series NYSE trading halts and leading a surprise resurgence of so-called stonks, as passionate retail investors have dubbed their favorites on various online forums. GameStop shares hit $160 at the open before being halted after several minutes of trading and fell to around $129 before the second halt. The stock resumed trading around 10 a.m. Eastern and hovered around $143 in late morning trade, up 56%.
The rally lifted other stonks popular on sites such as Reddit s WallStreetBets, with AMC Entertainment Holdings Inc up 12.5% and headphone company Koss Corp up nearly 61%.
U.S. micro-cap stock surge shows investor risk taking, GameStop effect Lewis Krauskopf Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Some of the biggest winners on U.S. stock exchanges so far this year have been their smallest members, partly fueled by the GameStop effect, but their gains could be particularly vulnerable if investors get skittish about equities.
The Russell Microcap index, whose components have a median market value of about $350 million, has climbed 26% nearly two months into 2021. That gain tops the 4.5% rise for the large-cap S&P 500, whose components’ median market value is about $28 billion, and the performance of benchmark small- and mid-cap stock indexes.
GameStop shares soar as meme stocks rally again
By Aaron Saldanha, Thyagaraju Adinarayan and David Randall
Reuters
(Reuters) - GameStop Corp shares soared again on Thursday after doubling in the previous session, triggering a series of NYSE trading halts and leading a surprise resurgence of so-called stonks championed by passionate retail investors on various online forums. GameStop shares hit $160 at the open before being halted after several minutes of trading and fell to around $129 before the second halt. The stock resumed trading around 10 a.m. Eastern and hovered around $143 in afternoon trade, up almost 60%.
GameStop was up almost 70% at one point in a blistering rally that lifted other stonks or meme stocks popular on sites such as Reddit s WallStreetBets, even as the broad S&P 500 index fell more than 2%. AMC Entertainment Holdings Inc jumped 12.5% and headphone company Koss Corp rocketed nearly 61%.
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