Reddit darlings up for a second day; GameStop leads
Video game retailer GameStop was up 37.9% after closing the regular session up 104% after an unexplained surge on Wednesday, and jumping another 85% after hours.
However, GameStop, in which trading was halted several times in Thursday’s session, lost some ground since the open and was last trading at $126.44 compared with its session high of $170.01, which came right after the open.
GameStop is still a long way off its Jan 28 peak of $483 at the height of the Reddit trading frenzy, but the stock was still showing YTD gain of 570%.
Trading volume for GameStop was last at 2.5 times the 10-DMA with 45.7 million shares already changing hands compared with Wednesday’s total of 83.1 million.
Also, shares of e-sports betting firm Esports Entertainment were up 23.7% after former GameStop short-seller Citron Research said GameStop should buy GMBL as it would allow GameStop to pivot away from its declining retail business.
Helsinki-listed shares in telecom network gear maker Nokia surge 6% in morning trade in Finland though its US shares were last showing a more modest 2.7% increase.
Cinema operator AMC Entertainment, another Reddit favorite, were last up 9.2% with trading volume 1.7 times 10-DMA.
BlackBerry’s US shares were actively traded but ticking down 1.0%.
