The skyward march in GameStop Corp. accelerated Tuesday, its stock nearly doubling during exchange hours and then surging another 50% after being name checked in a tweet by Elon Musk. Earlier this month, traders piled into GameStop after activist investor and Chewy Inc. co-founder Ryan Cohen joined its board. Better-known names jumped in Tuesday with venture capitalist Chamath Palihapitiya pushing the gains higher during trading hours after tweeting about buying calls. Elon Musk later tweeted a link to a Reddit thread about the company. GameStop surged as much as 68% in extended hours, climbing past $240 a share at one point after soaring 93% during the regular trading day.

Source: Mint January 27, 2021 03:56 UTC