Signage is displayed at a GameStop Corp. store. to Oswego, Illinois, USA
Photographer: Daniel Acker / Bloomberg
Photographer: Daniel Acker / Bloomberg
GameStop Corp. on Monday it extended its strong expansion in premarket trading, more than double that of Friday’s close, as bullish day traders maintained dominance over short sellers.
Shares rose to $ 136.63 compared to the last closing price of $ 65.01. That it rose 51% on Friday, and trade stopped at least four times in New York on the way to a record close.
The parabolic rise of GameStop has demonstrated the divide between day traders and bets on a quick return to reality. Short seller Citron Research said Friday it will stop commenting on the shares due to the actions of “an angry crowd,” referring to a reaction from Reddit users.
More than 193 million shares were traded on Friday, marking the company’s busiest day since it went public in 2002.