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GameStop Jumps 63% in After Market, to $243 and Counting

Stock MarketsJan 26, 2021 05:10PM ET
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© Reuters

by Liz Moyer

Investing.com -- There's speculation, and then there's just plain crazy. GameStop Corp (NYSE:GME) shares soared 62% after the market closed on Tuesday, to reach $243, and that's after nearly doubling during regular trading hours.

Elon Musk appears to have something to do with this.

The Tesla Inc (NASDAQ:TSLA) CEO, who is known for his itchy Twitter trigger finger, tweeted a shoutout late Tuesday and a link to the Reddit board whose members reportedly are responsible for the run-up in GameStop shares in recent days. The retail investors are battling professional traders who have heavily shorted the stock.

GameStop Jumps 63% in After Market, to $243 and Counting
 

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Comments (32)
Jo Pa
Jo Pa Jan 26, 2021 11:37PM ET
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It's called a 'corner.' You shouldn't be writing about investing if you don't know the basics.
Chris Sundo
Chris Sundo Jan 26, 2021 10:09PM ET
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It's time America stops being addicted to sensationalism. Soap opera politics by a TV host under Trump was a lost 4 yrs for America with a lot of hoopla.
Chris Sundo
Chris Sundo Jan 26, 2021 10:05PM ET
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'$hort-squeeze' to what? 154 was the peak a few yrs ago. So these days being above that means No real $hort squeeze -- Wouldn't be surprised if it opens tmr without a change. Andrew Left, famous short seller, could be shorting the open.
Tommi Nuutinen
Tommi Nuutinen Jan 26, 2021 10:05PM ET
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still, Musk's tweets have too much power. The "signal" case proved it already. So, my question is, should I be lookout for Musk's tweets and buy for whatever he says. I think I should.🤔 Just wondering how many times this will work.
Mario tragik
Mario tragik Jan 26, 2021 9:45PM ET
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The SEC?  I do not see anything illegal in this.
Don Kaminsky
Don Kaminsky Jan 26, 2021 9:10PM ET
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I'll stick and sleep well with Applestock long.
Neil Sakocius
Neil Sakocius Jan 26, 2021 7:58PM ET
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These people arent sticking it to anyone. They just up the liquidity and are going to make more on the way down. The temporary price increase doesnt change the fact its a bad business.
Tony Huynh
Tony Huynh Jan 26, 2021 7:06PM ET
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lol every news are trying to bash the retailers for what is happening to GME. They totally forget what's happening right now is because of Melvin manipulation, they over leverage their shorts and now they have to pay for it.
Joel Schwartz
Joel Schwartz Jan 26, 2021 7:06PM ET
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Hopefully the media can push the short interest over 200% lol
ELVIZ HotGaz
HotGaZ Jan 26, 2021 7:06PM ET
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hopefully mainstream media doesn't ruin WSB, like they went after that 4chan guy.
Mike Chen
Mike Chen Jan 26, 2021 6:43PM ET
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The short sellers lost the game. The retail investors proved to be invincible. Don’t short when Fed is behind the Long force.
Most expensive Hobby
Most expensive Hobby Jan 26, 2021 6:43PM ET
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Who do you think will loose equally as much or more when this rebellious pump stops? - retailers/Virtue signaling snowflakes
Mox Mox
Mox Mox Jan 26, 2021 6:15PM ET
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Young ones have always been revels. This is their way to stick their finger to fruitcake Wall street and Dems
Chris Sundo
Chris Sundo Jan 26, 2021 6:15PM ET
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LOL
Jeff Schuster
Jeff Schuster Jan 26, 2021 5:58PM ET
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I have never owned or shorted this stock but I think it's great what is happening.  The pro want to put Gamestop out of business and they got burned soooooooo badly. I love it.
Jermaine .A
Jermaine .A Jan 26, 2021 5:58PM ET
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I'm glad people are making their money since you can't knock the hustle, but let's be honest Gamestop is a terrible company that needs to either downsize or go bankrupt. As they are now they have no viable future. Let those resources be redeployed into the economy to make a more meaningful contribution to society.
Praneet Castelino
Praneet Castelino Jan 26, 2021 5:58PM ET
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But why would you keep on artificially inflating GameStop stock? Do people not understand about the "Greater Fool Theory"? Why would you invest in that, when you can get better return on others. But people are not buying because they believe in GME, they are buying call options to trigger a gamma squeeze which is pushing prices up higher which in turn is triggering a short squeeze. It is madness.
Thomas Camargo
Thomas Camargo Jan 26, 2021 5:58PM ET
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Retail investors are just having fun at the expense of big money players. This is really interesting to watch
Joel Schwartz
Joel Schwartz Jan 26, 2021 5:57PM ET
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$1000 PT
MK MK
MK MK Jan 26, 2021 5:49PM ET
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What the fools :) You created perfect market for institutions to get rid of those worthless shares. If you play with this, do not use leverage!!! Your stoploss may be closed with much lower price you can expect
rr bonne
rr bonne Jan 26, 2021 5:47PM ET
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not insiders. we are outsiders! maybe the 'in' crowd. I wanna help
Matt Cavagrotti
Matt Cavagrotti Jan 26, 2021 5:43PM ET
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Think it's funny everyone mad at retail investors over this. What about the institutional shorts who got way out over their skiis trying to bankrupt a struggling company? You reap what you sow
Marcus LL
Marcus LL Jan 26, 2021 5:43PM ET
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How does shorting a stock cause a company to go bankrupt?
czervika czervika
czervika czervika Jan 26, 2021 5:40PM ET
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Elon....
Brian Fosnaugh
Brian Fosnaugh Jan 26, 2021 5:37PM ET
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Don't forget about the 99 cent store
John Patrick
John Patrick Jan 26, 2021 5:33PM ET
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Great we can use GameStop as evidence of the recovery and pump stocks to even more all time highs. Who needs the rest of the economy anyway
rr bonne
rr bonne Jan 26, 2021 5:33PM ET
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cool. I'm in!
Michael Garrett
Michael Garrett Jan 26, 2021 5:28PM ET
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good thing the SEC doesn't work anymore
DrFunkenstein hayson
DrFunkenstein hayson Jan 26, 2021 5:28PM ET
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next up. dds and lgnd load the boat
Geoff McKay
Geoff McKay Jan 26, 2021 5:26PM ET
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Good! Maybe the big boys will think twice before trying to manipulate markets
Bj Van de Weyer
Bj Van de Weyer Jan 26, 2021 5:26PM ET
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🤣🤣🤣
rr bonne
rr bonne Jan 26, 2021 5:26PM ET
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I'm in. don't want to miss it
Anton Mikhaylenko
Anton Mikhaylenko Jan 26, 2021 5:24PM ET
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GameStop is going to at least 250b market cap
Tgh Tgh
Tgh Tgh Jan 26, 2021 5:24PM ET
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Hermo Genianus  Yes retail and loser instos like MELVIN capital who are behaving like noobs
Chris Garcia
Chris Garcia Jan 26, 2021 5:22PM ET
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We’re going to $1000 at least probably much higher. It’s still early if you don’t own any shares yet
Show previous replies (2)
wyketa moon
wyketa moon Jan 26, 2021 5:22PM ET
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how do you buy?
wyketa moon
wyketa moon Jan 26, 2021 5:22PM ET
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how do you buy?
wyketa moon
wyketa moon Jan 26, 2021 5:22PM ET
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Where do I buy stock? I'm new to this. How does it work?
Tgh Tgh
Tgh Tgh Jan 26, 2021 5:22PM ET
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wyketa moon  buy from a broker that doesn't lend out your stock for short selling - opt out if you have to
Joel Schwartz
Joel Schwartz Jan 26, 2021 5:22PM ET
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wyketa moon Don’t buy on margin either. They can loan your shares out to institutions to short if you do. Buy with a cash settled account.
shano Dogar
shano Dogar Jan 26, 2021 5:17PM ET
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AUDUSD Today is dawooon 76900 I say .
ja aa
ja aa Jan 26, 2021 5:16PM ET
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because he knows we're all going to buy a Tesla with the gainz.
Cons tamer
Cons tamer Jan 26, 2021 5:16PM ET
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with the tendies*
Cons tamer
Cons tamer Jan 26, 2021 5:16PM ET
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with the tendies*
Tin Nguyen
Tin Nguyen Jan 26, 2021 5:16PM ET
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53k into 22 million....unreal!
Brook Buck
Brook Buck Jan 26, 2021 5:16PM ET
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better than a lottery ;)
 
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