The signage is displayed in a GameStop Corp store. in Oswego, Illinois, USA
Photographer: Daniel Acker / Bloomberg
Photographer: Daniel Acker / Bloomberg
GameStop Corp. extended its impressive increase in the pre-market on Monday, more than doubling from Friday’s close, with day traders on the rise maintaining the advantage over short sellers.
The stock rose up to $ 136.63 compared to the last closing price of $ 65.01. this rose 51% on Friday, with negotiations being halted at least four times in New York, on the way to a record close.
GameStop’s parabolic rise showed the division between day traders and bears who are betting on a quick return to reality. Short seller Citron Research said on Friday it would stop commenting on the shares due to the actions of “an angry mob”, referring to a reaction from Reddit users.
More than 193 million shares were traded on Friday, marking the most active day for the company since it went public in 2002.