Stranded GameStop Bulls Get Exit Point in Meme Stock Reawakening
- Shares soar to levels last seen in late January buying frenzy
- Meme stocks surged late Wednesday in ‘deja vu’ moment
This article is for subscribers only.
The sudden surge that sent GameStop Corp. to $200 late Wednesday made for an amusing chart, but for people who bought at the height of the meme-stock craze it was no joke.
Shares of the video-game retailer roared back from a three-week rout, touching prices as much as four times as high as the closing level Tuesday. Trading afterhours Wednesday evening went off at an average price of close to $135 a share. That’s a lot of liquidity to sell into for bulls who have been holding the bag in the erstwhile day-trader darling for four weeks.