The stock price of Gamestop (GME.US) is again soaring, surprising those who thought stock price would stabilise after its recent shock rally and catastrophic dive which shook Wall Street. The video game retailer’s stock jumped nearly 100% in premarket, after more than doubling on Wednesday. Meanwhile other so-called “meme stocks” – favoured by Reddit’s traders, also move sharply higher. AMC Entertainment (AMC.US) rose 18%, BlackBerry (BB.US) gained nearly 9% and Tilray (TLRY.US) added more than 10%.
Without a clear buying catalyst, many believe that the recent upward move was again caused by the retail traders from the Wall Street Bets message board.
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According to Swaggy Stocks, AMC and Gamestop stocks again recorded the highest volume of comments and positive sentiment on WSB. Source: Wall Street Bets (via ZeroHedge)
Bloomberg said, retail traders gathered on Reddit "to discuss the stock following news of the upcoming departure of Chief Financial Officer Jim Bell" which resulted in GME's biggest intraday jump in nearly three weeks.
Gamestop (GME.US) jumped nearly 100% in premarket. Source: xStation5
AMC Entertainment (AMC.US) stock is also moving sharply higher. Source: xStation5
