GameStop’s initial rally peaked at the end of last month at $347.51Trading in GameStop shares was briefly halted several times yesterday after the lossmaking video games retailer’s stock surged again on Wall Street. The shares, which more than doubled in value on Wednesday, rose 77 per cent at one stage before closing up 19 per cent, or $17.44, at $109.15. SponsoredDay traders celebrated on social media as several of their top picks, including GameStop, climbed in volatile trading. Shares in AMC Entertainment, the global cinemas operator and another company picked out by individual traders, also increased sharply. This year retail investors mobilised on platforms including Wallstreetbets, the popular forum on Reddit, to drive up the share prices of stocks that hedge funds had bet against.

Source: The Times February 25, 2021 17:01 UTC