{"id":198245,"date":"2021-03-09T22:38:10","date_gmt":"2021-03-09T19:38:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gamestop-stock-surges-for-5th-day-with-other-meme-stocks\/"},"modified":"2021-03-09T22:38:10","modified_gmt":"2021-03-09T19:38:10","slug":"gamestop-stock-surges-for-5th-day-with-other-meme-stocks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gamestop-stock-surges-for-5th-day-with-other-meme-stocks\/","title":{"rendered":"#GameStop stock surges for 5th day with other ‘meme stocks’"},"content":{"rendered":"

“#Game<\/a>Stop stock surges for 5th day with other ‘meme stocks’<\/strong>”
\n<\/p>\n

\n

GameStop shares soared their highest level in more than a month Tuesday as the video-game retailer\u2019s pivot to e-commerce added more fuel to Reddit<\/a>\u2019s favorite \u201cmeme stock.\u201d<\/p>\n

Shares in the Texas-based company surged 26 percent to a peak of $246.35 on their fifth consecutive day in the green. <\/p>\n

Other stocks that WallStreetBets pumped up in recent months also got a fresh boost Tuesday. Shares of beleaguered cinema chain AMC Entertainment rose nearly 16 percent at their session high, while former smartphone maker BlackBerry jumped about 10 percent and telecom firm Nokia climbed 3.6 percent.<\/p>\n

GameStop\u2019s Tuesday surge built on the 41 percent gain the shares notched Monday after revealing Chewy.com founder Ryan Cohen had taken the reins its shift to a digitally focused gaming business.<\/p>\n

The announcement created fresh hype around GameStop on Reddit\u2019s WallStreetBets forum, which thrust the struggling brick-and-mortar chain into the center of a stock-market revolution by driving its share price as high as $483 in late January.<\/p>\n

\u201cStill time to hop on board GME\u2026 final preparations are in place before lift off but the gate is still open!\u201d a Reddit user named jbver wrote in a Tuesday morning post<\/a> that featured a video of SpaceX\u2019s massive Starship rocket.<\/p>\n

The VanEck Vectors Social Sentiment ETF \u2014 a newly launched fund that tracks stocks that are popular online \u2014 bounced 4.7 percent to an intraday high of $24.19, outpacing the broader market.<\/p>\n

\u201cA lot of these retail traders are newer traders in the market, and they\u2019re really going to focus on what they know,\u201d Jake Wujastyk, chief market analyst at TrendSpider, told The Post. \u201cIf you\u2019ve been trading only GameStop and AMC, if you\u2019re a newer trader, that\u2019s all you know, so that\u2019s what you\u2019re naturally going to gravitate towards once you start trading again.\u201d<\/p>\n

Cohen, an activist investor, helped light the fuse for GameStop\u2019s initial explosion because some in the Reddit crowd predicted he would turn the company around after joining the board in January. Retail traders then pumped up GameStop and other stocks to pressure hedge funds that had bet against them.<\/p>\n

One of Cohen\u2019s fans is Keith Gill, the trader known as \u201cDeepF\u2014ingValue\u201d on Reddit who\u2019s been credited with spearheading the GameStop rally.<\/p>\n

Gill revealed in a Reddit post<\/a> that the value of his GameStop stake grew by $8.5 million on Monday as the shares spiked. <\/p>\n

GameStop\u2019s Tuesday surge came as the Senate Banking Committee held a hearing on the recent retail investing boom. Gill testified at a similar hearing last month before the House Financial Services Committee.\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#GameStop stock surges for 5th day with other ‘meme stocks’” GameStop shares soared their highest level in more than a month Tuesday as the video-game retailer\u2019s pivot to e-commerce added more fuel to Reddit\u2019s favorite \u201cmeme stock.\u201d Shares in the Texas-based company surged 26 percent to a peak of $246.35 on their fifth consecutive day…<\/p>\n","protected":false},"author":1,"featured_media":198246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/gamestop-stocks-rise.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[96854,72128,71451,5005,72388],"class_list":["post-198245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-9-21","tag-gamestop","tag-memes","tag-reddit","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/198245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=198245"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/198245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/198246"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=198245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=198245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=198245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}