GameStop Stock is Turning Heads Again

    • GameStop had another dizzying turn in the news.
    • The video game retailer's stock price more than doubled.

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Three weeks after GameStop came back to earth, the once-beleaguered video game retailer returned to the spotlight with another stock rally and a fresh round of intrigue.

The company’s stock price leapt up 104% on Wednesday, and another 85% in early trading on Thursday. 

That put the price right around half of Reddit-fueled highs near $350 in January. The price had since dropped well below that peak but was still two to three times what it was in December, when the company was simply a retailer struggling to keep up with a digital marketplace.

The surge comes on the heels of news that CFO Jim Bell was forced out by the company board, a move GameStop said was unrelated to the recent hubbub. 

The gaming retailer’s good fortune is rubbing off. Esports Entertainment Group’s shares jumped nearly 30% when Citron Research Group advised GameStop to buy the gaming betting platform. Another Reddit favorite, AMC Entertainment, had a similar burst in activity, with its stock price rising 18% on Wednesday.

As for Robinhood — although the stock trading platform had to defend itself before Congress in the wake of this saga, the publicity hasn’t hurt its outlook as it moves toward a likely IPO later in the year.