The shares of GameStop Corp. they rose again on Tuesday, closing at their highest point since late January and retreating their market capitalization above $ 17 billion.
After dropping about 90% of the highs of the meme buying frenzy in January, GameStop GME,
has shot up more than 108% in the last five trading sessions, including Tuesday’s 27% gain. Shares closed Tuesday’s regular session at $ 246.90, off a record close of $ 347.51 on Jan. 27, and rose another 3% in out-of-hours trading.
GameStop shares have risen more than 1,200% to date and more than 5,700% in the last twelve months.
Shares began to rise again on Monday after GameStop announced a new strategy committee to identify ways to accelerate its transformation, which will be led by investor investor and Chewy Inc. CHWY,
co-founder Ryan Cohen.
Late Tuesday, GameStop said it will report fourth-quarter earnings and fiscal year after the market closes on March 23rd.
Earlier in the day, the Senate Banking Committee kicked off hearings on financial speculation and the easy-to-trade practices of Robinhood and other zero-commission companies that, combined with talks on Reddit forums, helped fuel the historical purchase of very short stocks, such as GameStop. and AMC Entertainment Holdings Inc. AMC,
– earlier this year.