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GameStop shares rose 52.7% in premarket trading on Thursday as strongly short stocks favored by Reddit traders appear to be reappearing.
Investors have piled on the brick-and-mortar video game retailer on Wednesday after the reported dismissal of chief financial officer Jim Bell, which caused shares to soar 103.9% before stopping trading.
The company announced Tuesday that Bell will resign on March 26, with reports suggesting that Ryan Cohen, GameStop investor and co-founder of online pet food distributor Chewy, and the board forced the move to speed up their transition. on line.
GameStop was at the center of a period of market chaos in late January, as retailers led by a billionaire Reddit thread WallStreetBets sent their stock price soaring, causing a small squeeze in several Wall Street hedging fund with declining bets.
However, some analysts have suggested that there was also some institutional involvement in the price of balloon stocks.
Another stock caught in the retail frenzy, AMC Entertainment, rose 18% in premarket trading on Thursday, after rising 18% during the previous session. The film chain has been bolstered by New York Gov. Andrew Cuomo, who announced that the city’s cinemas could open with limited capacity next month.
Meanwhile, Reddit’s favorite headset maker, Koss Corp, jumped 57% in the early hours of Thursday.