GameStop heads toward best week in a month amid Reddit frenzy
Divya Balji and Bailey Lipschultz, Bloomberg News
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âGameStop Corp. shares are on track for their best week this month amid a flurry of day trader activity.
The video-game retailer has jumped more than 150 per cent so far this week, despite erasing gains of as much as 31 per cent on Friday as amateur investors continued to promote the stock on social media platforms like Reddit and StockTwits. More than 39 million shares changed hands by noon, double whatâs been seen in the past week, and adding to the 233 million that traded over the past two sessions.
GameStop heads toward best week in a month amid Reddit frenzy
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(Rewrites throughout, adds comments from interview with Left)
Feb 25 (Reuters) - The battle for videogame retailer GameStop’s future took a new twist on Thursday when a prominent investor suggested that the company, which has been at the center of a recent stock trading frenzy, should buy online gambling firm Esports Entertainment Group.
Short-seller Citron Research said in a tweet that such a move would be obvious and easy to justify (GameStop) stock price. (bit.ly/2MocuDQ)
Citron Research founder Andrew Left, who has spent two decades investing and producing stock market research, told Reuters such a tie-up would be “a major pivot” that would put GameStop on a solid financial footing and introduce the brand to millions of new customers.
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(Reuters) - The battle for videogame retailer GameStop’s future took a new twist on Thursday when a prominent investor suggested that the company, which has been at the center of a recent stock trading frenzy, should buy online gambling firm Esports Entertainment Group.
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Short-seller Citron Research said in a tweet that such a move would be obvious and easy to justify (GameStop) stock price. (bit.ly/2MocuDQ)
Citron Research founder Andrew Left, who has spent two decades investing and producing stock market research, told Reuters such a tie-up would be “a major pivot” that would put GameStop on a solid financial footing and introduce the brand to millions of new customers.