GameStop More Than Doubles Premarket as Stock’s Surge Continues
(Bloomberg) -- GameStop Corp. extended its eye-popping surge in premarket trading on Monday, more than doubling from Friday’s close as bullish day traders maintained the upper hand over short sellers.
The stock rose as high as $136.63 compared with the last closing price of $65.01. It climbed 51% on Friday, with trading being halted at least four times in New York on the way to a record close.
GameStop’s parabolic rise has showcased the divide between day traders and bears betting on a quick return to reality. Short seller Citron Research said Friday it will stop commenting on the stock due to the actions of “an angry mob,” referring to a backlash by Reddit users.
More than 193 million shares were traded on Friday, marking the most active day for the company since it went public in 2002.
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