GameStop is again at the top spot. The video game retailer’s share started to rise before the market close on Wednesday – and GME just closed at $91.71, which is around 104% for the day.
At the beginning of the month, the stock fell so bad and now it’s the highest since then, Reddit-fueled rally that helped to send it as high as $483 a share. At the time of the afternoon, trading on the stock was pulled up twice.
The community of retail investors is very happy at the results and taking a big jump as proof that the game isn’t over yet. There is very much interest in the community.
Some events from this week might be helping to raise. Keith Gill, GME advocate known as u/DeepFuckingValue or Roaring Kitty, testified in the last week in a House Financial Services Committee hearing about the GameStop rally, where he had pleaded his case as an everyday investor who did like the stock. Later that week, Gill doubled his holdings to 100,000 shares in GME, worth at that time nearly $4 million, reported by The Wall Street Journal.
Yesterday, Jim Bell, the former chief financial officer of GameStop has announced his resignation, a shocking departure Insider now reports that the company’s board of directors might “lost faith” in the executive.
Ryan Cohen, the Chewy founder – whose interest in the company did help facilitate its skyrocketing stock price – posted a photo of one ice cream cone with an emoji of a frog for the caption.