The shares of GameStop Corp. rose again on Tuesday, closing at its highest point since the end of January and pushing market capital back more than $ 17 billion.
After falling by about 90% from the highs of its meme-buying frenzy in January, the GameStop GME stock,
increased by more than 108% in the last five trading sessions, including the 27% gain on Tuesday. Shares closed the regular session on Tuesday at $ 246.90, apart from a record close of $ 347.51 on January 27 and rose another 3% in trading after the program.
GameStop shares have risen by more than 1,200% so far and by more than 5,700% in the last 12 months.
Shares began rising again on Monday after GameStop announced a new strategy committee to identify ways to accelerate its transformation, which will be led by activist investor and Chewy Inc. CHWY,
co-founder Ryan Cohen.
Late Tuesday, GameStop said it would report fourth-quarter and fiscal year earnings after the market closed on March 23.
Earlier, the Senate Banking Committee began hearings on the financial speculation and light trading practices of Robinhood and other zero-commission firms, which, combined with discussions on Reddit forums, helped fuel the historic short-term buy. – such as GameStop and AMC Entertainment Holdings Inc. I HAVE C,
– Earlier this year.