Signage is displayed at a GameStop Corp. store in Oswego, Illinois, USA.
Photographer: Daniel Acker / Bloomberg
Photographer: Daniel Acker / Bloomberg
GameStop Corp. extended its dazzling rise in premarket trading on Monday, more than doubling from Friday’s close as bullish day traders prevailed over short sellers.
The stock rose to $ 136.63 from the last close of $ 65.01. It rose 51% Friday, with New York trading halted at least four times on its way to a record close.
GameStop’s parabolic rise has exposed the divide between day traders and bears betting on a quick return to reality. Short-seller Citron Research said Friday it will stop responding to the stock over the actions of “an angry crowd,” referring to a backlash from Reddit users.
More than 193 million shares were traded on Friday, the most active day for the company since it went public in 2002.