Meme Stocks are BACK!- GameStop’ Shares rose as much as 210% in premarket trading
Gamestop rose to over 100% earlier today as European retail traders joined in the fresh buying push. It rose as much as 240% in premarket trading and were up 210% as of 0741 GMT and this surge comes after a pretty tight week for the meme stock.
GameStop’s U.S.-listed shares soared nearly 104% on Wednesday and were halted several times in a rally that began after 1930 GMT. They jumped another 85% after hours. GameStop was not left alone in this recent rally as Cinema Operator AMC Entertainment’s shares jumped 41% following the spike in GameStop’s shares.
Analysts who looked into the recent rally could not pinpoint any reason for the sharp move.
Attributing this rally to retail investors is the next best thing. What do you think? Is this recent rally going to be as significant as the one that was seen last month? Is this the right time to buy?