GameStop Corp. continued its march to the skies in US pre-market operations after a tweet from Elon Musk fanned the flames of the stock’s falling rally which has caused the company’s market value to rise further of $ 10 billion.
Shares rose to $ 260, 76% more than the last close of $ 147.98. That followed the 93% rise on Tuesday, which meant GameStop has risen more than eight times this month in a dizzying rally driven by Reddit traders.
After a frantic session on Tuesday, stock gains hit new highs outside normal hours after Tesla Inc. chief Musk has tweeted at a link to a Reddit thread about the company. The famous fund manager Michael Burry he warned that the manic demonstration had escaped his hands, and described the rise of the actions as “unnatural, unhealthy and dangerous”.
GameStop Shares are almost always submerged after earnings reports
The rise of GameStop has captivated Wall Street and hampered short sellers, including Gabe Plotkin’s Melvin Capital and Andrew Left’s Citron Research. He has also spurred requests for an investigation by the Securities and Exchange Commission, although experts say it is difficult to prove that chat room publications are part of an illicit process. scheme manipulate the market.
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