Shares of GameStop Corp. (GME) jumped 11% in premarket trade Wednesday, a day after the stock closed at its highest point since the end of January ( pushing its market cap back above $17 billion. After plunging about 90% from its highs of the meme-stock-buying frenzy in January, GameStop stock has skyrocketed more than 108% in the past five trading sessions, including Tuesday's 27% gain. Shares closed Tuesday's regular session at $246.90, off from a record close of $347.51 on Jan. 27. The premarket gains imply a market cap of $19 billion. Other meme stocks, that were caught up in January's trade, were also higher premarket. AMC Entertainment Holdings Inc. (AMC) was up 6% ahead of quarterly earnings scheduled for release after the market close. BlackBerry Ltd. (BB.T) was up 2.3%, Naked Brand Group Ltd. (NAKD) was up 1% and Koss Corp. (KOSS) was up 4.6%. Futures for the Dow Jones Industrial Average were indicating a slightly higher open, while futures for the S&P 500 were indicating a lower open.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 10, 2021 06:44 ET (11:44 GMT)
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