Search
EN Down
Language
Hi, user_no_name
Live Chat
  • GME shares jump over 80% in trading on Monday, after rallying 51% on Friday
  • Shares now up 250% this month
  • Analysts cite short squeeze and heavy retail volumes

Shares in GameStop Corp. (GME) surged another 80% on Monday as the stock’s breakneck ascent continued amid frenzied retail trading activity. The stock jumped to over $101 in early trade, hitting a session high before jumping again to $119, having been worth as little as $6 four months ago.

GameStop is the latest stock to benefit from intense retail interest among stock day traders and is a popular topic on Reddit, where many on the ‘wallstreetbets’ thread are backing the stock. In fact, it’s become the number one topic on the /r/wallstreetbets subreddit site, which has 2m members.

The rally came despite a double-downgrade from Telsey Advisory Group, which slashed its rating on the stock to underperform from outperform, noting a basic disconnect between fundamentals and valuation. “The sudden, sharp surge in GameStop’s share price and valuation likely has been fuelled by a short squeeze, given the high short interest, and, to a lesser degree, speculation by retail investors on forecasts for the new gaming cycle and the involvement of activist RC Ventures,” the analyst note said.

GME sentiment analysis

GameStop sentiment

Latest news

Tesla shares poised for 6th straight loss as Cybertruck recalls begin

Friday, 19 April 2024

Indices

Tesla shares drop again as Cybertruck recalls begin

Citi issues new gold price forecast, sees yellow metal at $3000 by year-end

Friday, 19 April 2024

Indices

Citi updates gold price forecast to $3,000 by year-end

Magnificent Seven earnings take centre stage in the markets this week

Friday, 19 April 2024

Indices

Week ahead: Wall Street’s Magnificent Seven earnings are up

Oil and gold prices rallied as Israel launched a retaliatory strike on Iran

Thursday, 18 April 2024

Indices

Oil, gold price rallies on Iran blasts as Israel retaliates

Live Chat