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GameStop shares rallied dramatically on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years.
Legendary investor Warren Buffett has long advised that most investors would be better off buying an S&P 500 index fund and adding to it over time rather than chasing stock fads.
The move: GameStop stock jumped as much as 10% Friday morning to $28.97. The stock is down 8% year to date and is 76% below its record high, reached during the meme-stock craze of 2021 . The chart:
[74] [76] [77] The jump came a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate GameStop's transformation'. [75] On March 8, the stock surged 41 percent to $194.50, following GameStop's announcement that Ryan Cohen would lead a new committee to help the company's transition to e-commerce.
The meme stock rally in 2021 was set off by Gill's posts on Reddit's Wallstreetbets discussion group about the gains he had made on his investments in the highly shorted firm.
Shares of the video game retailer jumped 33% in premarket trading on Friday after rising 47% in Thursday's session. ... for a position in GameStop at that time valued closer to $210 million ...
The stock's 30-day implied volatility — how much traders expect the shares to move around over the short term — jumped to a 3-week high of 132%, up from 93% in the previous session, data showed.
The struggling movie theater chain AMC jumped 2,300% in a very short span of time in the same year. ... GameStop's tradable shares now stand just over 24%, slightly more than the 22.5% recorded in ...