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The stock had been flat year to date ahead of Monday's rally but had risen about 60% in the past month. GameStop stock is now up over 180% over the last month, not including Tuesday's gains.
Closing price and trade volume of GameStop Corp. from January 4, 2021, to February 5, 2021 [1] Template documentation [ view ] [ edit ] [ history ] [ purge ] Graphs are currently disabled
As of January 29, 2021, on the New York Stock Exchange. [184] [185] This effect was mainly attributed to short sellers using illegal business practices causing the stock to be shorted over 100 percent of the free float of the company. There is uncertainty around the size of the effect of short sellers closing their position.
At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share ($125 split-adjusted), nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities and cryptocurrencies also increased.
GameStop stock tanked more than 18% Wednesday as a rally among meme names showed signs of fading. Shares of the video game retailer are coming off a two-day short squeeze.
GameStop stock surged as much as 110% after 'Roaring Kitty,' who was credited with starting the 2021 meme stock frenzy, posted on X for the first time in three years.