GameStop s 400% rally puts market value atop some in S&P 500
Paul Jarvis, Bloomberg News VIDEO SIGN OUT
GameStop Corp. soared for a fourth straight session, catapulting the former small capâs market value beyond 14 members of the S&P 500, including Marathon Oil Corp.
The stock climbed as much as 32 per cent before trimming gains to put its market capitalization at about US$6.5 billion, more than the likes of Apache Corp. and Hanesbrands Inc. It surpassed insurance-provider Unum Group and refiner HollyFrontier Corp. on Monday.
Tell me what to buy tomorrow and if you convince me Iâll throw a few 100 kâs at it to start.
GameStop short-sellers reload bearish bets after US$6B loss
Katherine Greifeld and Bailey Lipschultz, Bloomberg News It s a bit scary : UBS strategist on speculative rally in GameStop VIDEO SIGN OUT
Despite a punishing two weeks and relentless chat-room taunting, GameStop Corp. haters are showing no signs of surrender.
GameStop stock equal to 139 per cent of its available shares has been borrowed and sold short, a bearish position showing mark-to-market losses of over US$6 billion year-to-date, according to data from financial analytics firm S3 Partners. That figure is little changed since last Thursdayâs 141 per cent short-interest reading, even though GameStop shares have surged roughly 78 per cent in the past two days alone.