A new record for GameStop

By: Miguel A. Rodriguez

16:36, 25 August 2021

The world-renowned meme stock scored the biggest one-day gain since March 25

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

Share this article

This information prepared by capex.com/za is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of capex.com/zaJME Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.