Search
EN Down
Language
Hi, user_no_name
Live Chat

GameStop shares renew rally, notch highest close in three weeks

 

GameStop shares rise 19% on Wednesday, notch 3-week high

GameStop shares surged again on Wednesday, rising 19.1% and notching their highest close in three weeks following a 5.4% decline on Tuesday.

The video game retailer's stock closed at $31.57, its highest level since May 15, 2024, when it finished at $39.55. GameStop shares have now risen in four of the last five trading sessions.

Last month, influential trader Keith Gill, known by the moniker Roaring Kitty on social media, ignited a new meme stock rally, leading to a sharp rise in both AMC Entertainment and GameStop shares, along with several other stocks.  

GameStop and AMC were central to the original meme-stock frenzy in 2021, which brought Gill to prominence.

AMC shares also saw gains, closing up 7.5% on Wednesday after a 0.4% decline on Tuesday.

 

Choose your points of movement

Сalculate your hypothetical P/L (aggregated cost and charges) if you had opened a trade today.

Market

Shares Search
Shares
Index
Commodity
Bonds
Crypto
ETFs
Currency

Instrument

Search
Clear input
Occidental
Prosus N.V.
Porsche AG
Hermes
CAT
Thermo Fisher
Nikola Corporation
Tilray
Shell plc (LSE)
Skillz Inc
Iberdrola
DeltaAir
CrowdStrike Holdings
Golar LNG
Applied Materials
Snowflake
Royal Bank Canada
Amazon.com
Spotify
Exxon Mobil
CCB (Asia)
McDonald's
Campari
GameStop
Netflix
ON Semiconductor
Costco
Dave & Buster's
Delivery Hero SE
LUCID
Continental
SunPower
Zoom Video Communications
Schlumberger
Virgin Galactic
Upwork Inc.
Cameco
JP Morgan
Fuelcell
Rivian Automotive
XPeng Inc
Wal-Mart Stores
Trade Desk
Blackstone
Vodafone
Aptiv PLC
L'Oreal
Target
Rio Tinto
Sartorius AG
British American Tobacco
Qorvo
ASOS
Cisco Systems
Nel ASA
Arista
Airbus
Apple
Pfizer
AMC Entertainment Holdings
ASML
Hubspot
Teladoc
Starbucks
SMCI
Canopy Growth
Wish.com Inc
Lockheed Martin
ProSiebenSat.1
IAG
AbbVie
Marston's
Baidu
Teleperformance
Norwegian Air Shuttle
Airbus Group SE
HSBC HK
Block
Annaly Capital
Abbott
LVMH
American Express
Novavax
GoPro
Siemens
Total
SIG
Pinterest Inc
Taiwan Semi
Etsy
Amgen
SONY
3D Systems
UPS
Yandex
BlackBerry
Gen Digital Inc
Xiaomi
Quanta Services
Unity Software
NVIDIA
Anglo American
Palantir Technologies Inc
Fresnillo
Deere
Rolls-Royce
Porsche
Uber
Vir Biotechnology
American Airlines
ROBLOX Corp
Macy's
FirstRand
easyJet
DISNEY
Aurora Cannabis Inc
BP
Adidas
Boeing Co
Vonovia
Coca-Cola Co (NYSE)
Home Depot
General Electric
Coinbase Inc
ALIBABA HK
Philip Morris
General Motors
PayPal
UniCredit
II-VI
BASF
Kraft Heinz
Alphabet (Google)
Palo Alto Networks
Evraz
Plug Power
Li Auto
Oracle
Roku Inc
UiPath Inc
Upstart Holdings Inc
F5 Networks
Infinera
Inditex
ZIM Integrated Shipping Services Ltd
Deutsche Bank
Hammerson
IBM
JD.com
Barrick Gold
TUI AG (LSE)
Lemonade
MerckCo USA
Infosys
Invesco Mortgage
Comcast
Santander
Accenture
Anheuser-Busch Inbev
Visa
Mastercard
Ozon
T-Mobile
SAP
Wayfair
Beyond Meat
Kuaishou
CarMax
Tesla
Lyft
Medtronic
Adobe
Morgan Stanley
Workday Inc
Blackrock
Vipshop
Meta (Formerly Facebook)
Linde PLC
Micron
Lululemon
Ceconomy
Chipotle
Gilead
Avacta
Naspers
Bristol Myers
Samsung
The Cheesecake Factory
Glencore plc
British American Tobacco
ChargePoint Holdings Inc
Twilio
Intel
Lloyds
CNOOC
Electrolux
Wells Fargo
Sea
PG&E
Fedex
Citigroup
Peloton Interactive Inc.
eBay
Microsoft
JnJ
Bilibili Inc
Trump Media & Technology Group
AIA
Nasdaq
Air France-KLM
Allianz
Lithium Americas Corp
Procter & Gamble
Qualcomm
AMD
New Oriental
MercadoLibre.com
Mondelez
Lumentum Holdings
Two Harbors Investment aration
AstraZeneca
Norwegian Cruise Line
Unilever
GoHealth
PepsiCo
Barclays
PETROCHINA
Goldman Sachs
Eli Lilly
HSBC
Cellnex
Berkshire Hathaway
Jumia Technologies
HDFC Bank
RTX Corp
Bayer
Bank of America
Chevron
ADT
DoorDash
Marriott
Nike
AT&T
GSX Techedu
Robinhood
Telecom Italia
Deliveroo Holdings
TUI
Freeport McMoRan
Toyota
BioNTech
Airbnb Inc
Alibaba
Verizon
Nio
Eni
Ford
Hanesbrands
Volkswagen
UnitedHealth
Shopify
China Life
Snap
Christian Dior
Conoco Phillips
Lufthansa
Tencent
Moderna Inc
Salesforce.com
Broadcom
Diageo
Toro
Cinemark

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down
$-

Value

$-

Commission

$-

Spread

-

Leverage

-

Conversion Fee

$-

Required Margin

$-

Overnight Swaps

$-
Start Trading

Past performance is not a reliable indicator of future results.

All positions on instruments denominated in a currency that is different from your account currency, will be subject to a conversion fee at the position exit as well.

 

Social media posts hinting at Keith Gill's stake boost GameStop shares

GameStop shares saw another boost on Monday after a Reddit post from an account linked to Gill appeared to show him holding a substantial stake in the company. A follow-up screenshot on Monday appeared to confirm Gill’s position.

Several prominent media outlets, such as MarketWatch, could not verify the authenticity of these screenshots. Also on Monday, Gill posted a cryptic message on X, formerly known as Twitter, featuring a green “reverse” card from the card game Uno.

There appeared to be no fundamental reason for the sharp gains in GameStop shares — or any other similar stocks, such as AMC — when the meme stock rally came to life in mid-May, as per a comment from Markets.com Chief Market Analyst Neil Wilson:

“Short interest in GME stood at 24% before the fireworks, so we can assume a fair chunk of the move is short-covering action chasing the initial move up, plus some hedgies will have had calls on their shorts.

Trend following and momentum strategies may have helped. And it looks like retail investors are becoming more bullish again and willing to take on more risk. There is no fundamental reason for the move as such — GameStop’s last earnings report was abysmal”.

 

Gill’s trading activities under scrutiny from SEC, Massachusetts state

On Tuesday, a spokesperson for Massachusetts Secretary of State Bill Galvin told MarketWatch that the state's securities division is "looking into" Gill's trading activities.

The Wall Street Journal reported that the Securities and Exchange Commission is reviewing trading in GameStop call options around the time of Gill’s social media posts. However, it remains unclear if the SEC is specifically investigating Gill.

Gill has not responded to requests for comments on the Massachusetts investigation or the SEC’s reported review.

 

Robinhood stock rises on renewed retail interest in GameStop shares

 

Rise in markets — and GameStop shares — fuels retail investor interest

With markets climbing again this year, trading firms like Charles Schwab and Robinhood Markets have reported an increase in new accounts and activity from retail investors —individuals not employed by investment houses or other private firms.

GameStop capitalized on this renewed interest last month by raising $933 million through a share sale.

However, this surge in activity has caused some concern within the financial industry and in Washington, which held hearings on the GameStop phenomenon in 2021.

In an interview last month with CNBC, former financial regulator Jay Clayton, who led the Securities and Exchange Commission under former President Donald Trump, likened the activity to gambling:

“It bothers me on many levels. It's a lot closer to gambling than it is to trading and it's certainly not investing. Is this something we should be tolerating in our markets? Whether it's legal or illegal, I don't think so”.

GameStop shares have risen 80.1% so far this year, while AMC Entertainment stock has dropped 15.9%. The S&P 500 index has gained 12.3% during the same period.


When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.  

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. 

Latest news

Broadcom stock split set for mid-July after earnings beat

Thursday, 13 June 2024

Indices

Broadcom stock split set for mid-July after earnings beat

Federal Reserve anticipates only one interest rate cut this year

Thursday, 13 June 2024

Indices

Federal Reserve forecasts only one interest rate cut in 2024

Soft May US inflation reading welcome news for Federal Reserve

Wednesday, 12 June 2024

Indices

May’s softer US inflation data keeps Fed cut hopes alive

Macron calls snap election, riles markets

Wednesday, 12 June 2024

Indices

Markets riled up with Macron gamble, France's left tail risk

Live Chat