Business
Why GameStop (NYSE:GME) stock soared another 18% today
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
What happened
Another day, another big move for GameStop Corp (NYSE: GME) stock, which shot 18% higher on Monday on no news other than the momentum crowd on Reddit jawboning for higher highs.
So what
Unless you’ve just come out of a coma, you know the video game retailer’s stock has been especially volatile as traders piled into the shares to punish short-sellers who overplayed their hand by shorting more shares than were available to trade.
The resulting massive short squeeze caused short-sellers to lose billions of dollars and triggered congressional hearings on what occurred.
While GameStop shares eventually…
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