GameStop, made famous through Reddit at the beginning of the year, jumped 27.5%, marking its best day in five months. Despite the lack of news released about it, press releases and no recent filings with the Securities and Exchange Commission, the video game retailer appears to have renewed its status as a meme stock.
Back in June, the company announced quarterly revenues of $1.28 billion and plans to sell 5 million shares sporadically “at-the-market” offerings. According to data from FactSet, yesterday, August 24, more than 14 million GameStop shares were exchanged, seven times more than its 30-day average.
Read here more about GameStop’s quarterly performance!
Sources: marketwatch.com, thestreet.com