GameStop Stock Rises for Seventh Day, Hits Highest Level in a Month

Dow Jones07-17

GameStop meme trading is alive and well this month, with the videogame retailer rising for the seventh consecutive trading day on Tuesday.

The stock was up 5.7% on Tuesday. It's up 63% for the year, although its trading volume has subsided substantially since trader Keith Gill, better known as Roaring Kitty, reappeared in mid-May after about three years offline.

The current streak has sent the stock price up 16% for its best seven-day stretch since June and its highest price in a month. GameStop stock's highest close for the year so far was at $48.75 on May 14, when Roaring Kitty returned. Shares had been trading at around $11 in late April.

The meme stock trade is notoriously volatile, trading more on momentum and excitement, rather than fundamentals such as earnings growth and cash flow.

GameStop stock hit an intraday high for the year of nearly $65 in May on excitement o ver Roaring Kitty's return, before slipping. The stock is currently down 68% from a record high in 2021.

Another meme-stock trade, Trump Media & Technology Group, rose sharply Monday, following the assassination attempt on the former president, before shedding some of those gains. Notably, GameStop CEO Ryan Cohen tweeted what appeared to be an endorsement of Donald Trump in the 2024 election shortly afterward.

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Comments

xave
07-17
xave
im not here for 3 digits, im here for 10 digits🔥🚀💥
dr_balls
07-17
dr_balls
I like the stock.
gamestonk
07-17
gamestonk
Stocks only go up
Guavaxf30
07-17
Guavaxf30
Revenge of Roaring Kitty. But for how long?

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But for how long?","listText":"Revenge of Roaring Kitty. But for how long?","text":"Revenge of Roaring Kitty. 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