GameStop shares soar another 10% premarket, lifting other meme stocks AMC, Naked Brand and Koss too MarketWatch 2 hrs ago
MARKET PULSE
Shares of videogame retailer GameStop Corp. rose another 10% in premarket trade Tuesday, extending their prior-day gains amid talk on social media that trader in South Korea have joined the Reddit group seeking to push their bull case for the company. The stock was active late Monday after an after-market announcement that it had completed its at-the-market stock offering by selling 3.5 million shares for about $551 million. That was after the stock closed up about 12% in regular trade, chalking up its first double-digit gains since March 12. Other so-called meme stocks were also higher, with AMC Entertainment Holdings Inc. up 2.4%, BlackBerry Ltd. up 1%, Naked Brand Group Ltd. up 1.9% and Koss Corp. up 1.6%.
GameStop rally fades a bit, as reports surface of search underway for new CEO
The Grapevine-based video game company is said to be searching for a replacement for CEO George Sherman.
An analyst Edward Woo threw cold water on GameStop s hot streak when he wrote in a note to investors increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share.(John Minchillo)
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By Katie Greifeld, Sarah Ponczek, Paul Jarvis and Bailey Lipschultz
GameStop Corp. soared in premaket trading Thursday as retail investors revived the surge in Reddit-favorite stocks, putting it on pace to reap $7.6 billion in market value over two days.
The video-game retailer rose as much as 83% to $168 in New York. Among other favorites of traders populating Reddit forums, AMC Entertainment Inc. advanced 12% premarket after gaining 59% in the first three days of the week, while Koss Corp. surged 78%. Nokia Oyj, also a favorite of the meme crowd, climbed 7.7% in Europe, and BlackBerry Ltd. added 5.3% in early trading.
The surge was spurred by a final-hour rally on Wednesday that brought GameStop its biggest advance since Jan. 29, the day Robinhood Markets restricted trading in it and 49 other stocks at the height of the frenzy. An equally weighted Bloomberg basket of those rose more than 5%, the most since late January. The activity inflated trading volumes in the meme stocks an
GameStop soars again. Is it related to activist investor Ryan Cohen’s ice cream tweet?
The Grapevine-based company’s market value has risen as much as $5.9 billion in two days.
GameStop at Carrollton Park in Carrollton on Saturday, January 30, 2021. (Lola Gomez/The Dallas Morning News)(Lola Gomez / Staff Photographer)
GameStop Corp. soared Thursday as retail investors revived the surge in Reddit-favorite stocks, pushing it to reap $5.9 billion in market value over two days.
The Grapevine-based video-game retailer rose as much as 85% to $170.01 in New York, its highest since Feb. 1, as trading volume soared. Among other favorites of traders populating Reddit forums, AMC Entertainment Inc. advanced 13% after gaining 59% in the first three days of the week, while Koss Corp. surged 64%. Nokia Oyj, also a favorite of the meme crowd, climbed 7.4% in Europe. The meteoric rally in some Reddit-promoted stocks triggered volatility halts in GameStop, Koss and Express Inc.