GameStop Corp. shares they rose again on Tuesday, closing at their highest point since the end of January and pushing their market value to more than $ 17 billion.
After plummeting about 90% of its meme stock buying frenzy in January, GameStop Stock GME,
skyrocketed more than 108% in the last five trading sessions, including a 27% gain on Tuesday. The shares ended Tuesday’s regular session at $ 246.90, compared to a record close of $ 347.51 on January 27, and rose another 3% in trading after the stock market closed.
GameStop’s shares rose more than 1,200% in the year and more than 5,700% in the last 12 months.
Shares started to rise again on Monday after GameStop announced a new strategy committee to identify ways to accelerate its transformation, which will be led by activist investor and Chewy Inc. CHWY,
co-founder Ryan Cohen.
At the end of Tuesday, GameStop said it will present fourth quarter and fiscal year earnings after the market closes on March 23.
Earlier in the day, the Senate Banking Committee opened hearings on financial speculation and the easy trading practices of Robinhood and other zero-commission companies that, combined with conversations from Reddit forums, helped fuel the historic purchase of heavily sold shares – like GameStop and AMC Entertainment Holdings Inc. AMC,
– earlier this year.