GameStop Corp (NYSE: GME) closed up an impressive 6.10% at $24.88 on Wednesday, up $1.43 from the previous close of $23.45. GME shares continued their upward trend in after-hours trading, climbing another 2.13% to $25.41.
The rise in GameStop’s share price was due to high trading volume: Over 15.7 million shares changed hands, nearly double the average volume of 8.2 million. The day’s trading ranged from a low of $23.24 to a high of $25.38, indicating increased investor interest in the popular meme stock.
Analysts are keeping a close eye on GameStop ahead of its upcoming earnings report, which is expected between December 4 and 9, 2024. The stock’s market capitalization stands at $11.1 billion and its high price-to-earnings (P/E) ratio of 177.71 continues to attract attention. GME’s beta of -0.10 suggests a lower correlation with the broader market, making the stock a wild card for institutional and retail investors.
Investors are eager to see GameStop’s next moves to see if the game retailer can maintain its momentum or face new challenges in the market.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult a qualified financial advisor or conduct your own research before making investment decisions.
