The actions of GameStop Corp. jumped Monday, continuing an epic journey for the mall retailer.
The stock jumped about 16% during recent trading to $ 46.78, recouping some of its losses from last week. The shares have lost about nine-tenths of their value since peaking at $ 483 in intraday trading late last month.
The big fluctuation in the company’s stock comes after Keith Gill, the man behind Reddit’s frenzy in GameStop action, revealed a larger stake in it last Friday. A new screenshot posted to Reddit by DeepF — ingValue, his online username, showed that he had purchased an additional 50,000 shares, bringing his total stocks to 100,000 shares, valued at around $ 4 million Friday, the Wall Street Journal reported.
GameStop’s aggressive stance has already made Mr. Gill a millionaire and a hero to many individual investors, especially those on Reddit’s popular WallStreetBets forum.
The latest activity is a sign that GameStop’s mad rush isn’t quite over.