We all remember the jump in the GameStop shares created by the “amateur” investors and how it upset the “established” WallStreet investors. GameStop shares soared from ~$17/share to ~$347/share in less than 2 weeks.
After that, the price dropped. However, on February 22nd, forum talks started a new trend of price increasing for GameStop shares, culminating today with another high of above $200 per share.
From an outsider p.o.v., it seems as someone is testing the investors’ reaction 🤔
The following information was taken from MSN Money
GameStop rose as much as 25% on Tuesday, climbing above $200 for the first time since February 1.
The retailer’s shares have rallied in recent days as its transition to e-commerce business picks up steam.
GameStop announced Monday that Chewy founder Ryan Cohen will head a committee tasked with leading the firm’s transformation.
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Watch GameStop trade live here.
The stock surge comes after the company makes the move towards e-commerce and hires Ryan Cohen, Chewy founder, as the head of the planning committee and Matt Francis, an Amazon veteran, as its new chief technology officer.