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GameStop shares soar more than 20%, on track for fifth day of gains

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작성자 Zulma 작성일24-09-17 05:00 조회2회 댓글0건

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Stocks then moved back up and ended the day at $265, a 7% increase for the day.  GameStop shares spiked Wednesday, reaching $348 apiece, only to come crashing down to $172 each early in the afternoon, causing multiple halts in trading of the stock due to volatility. Short interest in GameStop was valued at $2.58 billion, or 24.3% of the stock´s float on Tuesday, compared to $1.80 billion, 32.6% in late February, according to data from financial analytics firm S3 Partners.

Special purpose acquisition companies, or SPACs, are shell companies which raise funds to acquire a private entity with the aim of taking it public, allowing such companies to sidestep a traditional IPO to enter public markets. Shares moved back up a bit in late February following news that Jim Bell, the chief financial officer, is resigning. Bell didn't leave the company willingly, according to Business Insider, and was reportedly pushed out by the board.

Elizabeth Warren, a Democrat from Massachusetts, said Tuesday she received responses from the Security Exchange Commission and the Financial Industry Regulatory Authority about the role hedge funds played in GameStop stock price surge in January. The SEC and FINRA say they are evaluating changes to the rules regarding the practice.  Traders on Reddit bought GameStop stock and increased its share price, leading to a "short squeeze," when hedge funds that bet against the retailer were forced to buy the stock in order to avoid large losses.

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l. Not merely the phrases they utilised, but the figures as well. Cohen, a major shareholder who has pushed Gametop´s move away from its brick-and-mortar model, joined the board in January shortly before a social media frenzy drove a meteoric rise in which GameStop shares surged more than 1,600%.

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