GME) stock

GameStop shares jump Tuesday on heaviest volume since August 2021, after a Reddit post argues the stock is trading at a massive discount, and the other ...

Regardless of whether the tweets had readers picturing Aron in a powdered wig eating tiny pastries or not, Hycroft shares traded up almost 5.7% on the day on action that was almost three times its daily volume. “The post was on our radar in premarket due to that it was the most upvoted and most discussed post on WallStreetBets,” said Ivan Cosovic, founder of Breakout Point, a data group focusing on meme stocks. As it often does, the pump on GameStop led to price swelling on AMC shares, which closed up 15.1% on the day, after CEO Adam Aron spent the twilight hours ahead of the session tweeting insults at haters of his recent investment in Hycroft Mining, a Northern Nevada gold and silver mining company. While the trading day gave rise to the growing meme portfolios of GameStop chairman Ryan Cohen and AMC CEO Adam Aron, it was a morning move on GameStop that appears to have incited the buying spree. The stock closed at $94.20 on Monday, but after the Reddit post received a few thousand upvotes, GameStop shares became the belle of Tuesday’s market ball, closing up 30.7% on the day at $123.15, nudging it closer to Thump4’s target price. Thump4 used a chart of the stock’s implied volatility and some options projections on contracts that suggested a calls-to-puts ratio of almost 2 to 1 into 2024.

GameStop stock has been up sharply lately, in meme style. Here is why shares could be on their way to the moon for the first time in 2022.

Yes, GME could be heading to the moon again. And this is what seems to be happening. Could this be the beginning of another melt-your-face rally? They are unlikely to resolve in the immediate future. To be fair, the retailer delivered fiscal Q4 revenue growth of 6% that, while modest, topped expectations by two percentage points. By late afternoon on Tuesday, shares of the popular game retailer had climbed more than 30% in a single session.

Shares of GameStop closed up 30% today on seemingly no news. Here are five institutional investors helping to drive up GME stock.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. That’s an increase of five funds from the prior quarter. On top of this, Seeking Alpha notes that GME stock has seen an increase in out-of-the-money call buying. In addition, GameStop currently has an extremely high short interest as a percentage of float. Mentions on the forum up more than 400% over the past 24 hours. According to WhaleWisdom, which tracks all 13F filers, 275 funds hold GME stock.