GameStop stock rally continues

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GameStop (GME.US) stock jumped another 15% in premarket, setting the videogame retailer on track for its longest streak of daily gains in six months. The stock has skyrocketed more than 108 % over the past five trading sessions, including Tuesday’s 27% gain and the company's market cap surpassed $17 billion. Contrary to January, the current rally is driven by expectations of future growth after Chewy's founder and former CEO Ryan Cohen, who is one of GameStop's largest shareholders, decided to lead a new strategy committee which aims to identify ways to accelerate the company's digital transformation. Other meme stocks are also moving higher. AMC Entertainment (AMC.US) rose 13% and Blackberry Ltd (BB.US) gained more than 7% in premarket.

GameStop (GME.US) stock jumped more than 1,200 %, year to date, and gained approximately 5,700 % over the past 12 months. Source: xStation5

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