GameStop has grown 85 % since yesterday's doubling
On Thursday, GameStop's stock rose to as much as 85 per cent in early trading before being stopped due to uncertainty. Shares also finished the day at $108.73, more than 18%. In the after-hour trading session, the stock was up as much as 20 percent.
The day before that, the gaming retailer's portfolio finished almost 104 percent higher.
Investors gained confidence in the stock again a few days after the firm revealed that its chief financial officer would leave next month to help "accelerate GameStop's transition," which might fuel investors who trust in the retailer's long-term value and ability to step away from it.
Having déjà vu yet? The surge comes about a month after a wild GameStop (GME) trading frenzy caused its stock to jump around 1,600% in a matter of days, though it quickly fell from its highs around $350 (Shares opened Thursday at around $170).
Late January, the rally was fuelled by individual retail buyers, many from Reddit's WallStreetBets forum, some of whom felt GameStop was undervalued, and others who decided to squeeze hedge funds who had shortened the stock.
AMC (AMC), another "meme stock" involved in trading frenzy last month, also jumped about 20% early on Thursday. As Koss Corp. (KOSS), which makes headphones, soared 80 percent. Clothing retailer Express (EXPR) has improved by 12 % .
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