Is The GameStop Craze Back?

Is the GameStop Craze back? What's happening in the New York stock market?

The shares of GameStop, which many small investors organized and raised on the social platform called Reddit last month, were still high today. GameStop shares increased 83 percent in pre-opening transactions in the US. GameStop stock climbed to $ 167.50 in New York and then traded at $ 135.57. The shares of AMC Entertainment, one of the favorite shares of traders who use the social platform called Reddit, increased by 59 percent in the first 3 days of the week, while it increased 17 percent in pre-opening transactions today. Express Inc. shares also rose 26 percent. This week, GameStop shares surged to a steep 104 percent on Wednesday afternoon, the biggest increase since January 29th. Keith Gangl, Portfolio Manager at Gradient Investments, said: "The Reddit group still seems active. Whenever there are news, they press again. But it is unclear how long this will continue." While different reasons were put forward for the rise of GameStop shares, one of the reasons was the news that Finance Director Jim Bell would resign.     Source: Bloomberg HT