Shares in GameStop Corp. (GME) surged another 80% on Monday as the stock’s breakneck ascent continued amid frenzied retail trading activity. The stock jumped to over $101 in early trade, hitting a session high before jumping again to $119, having been worth as little as $6 four months ago.
GameStop is the latest stock to benefit from intense retail interest among stock day traders and is a popular topic on Reddit, where many on the ‘wallstreetbets’ thread are backing the stock. In fact, it’s become the number one topic on the /r/wallstreetbets subreddit site, which has 2m members.
The rally came despite a double-downgrade from Telsey Advisory Group, which slashed its rating on the stock to underperform from outperform, noting a basic disconnect between fundamentals and valuation. “The sudden, sharp surge in GameStop’s share price and valuation likely has been fuelled by a short squeeze, given the high short interest, and, to a lesser degree, speculation by retail investors on forecasts for the new gaming cycle and the involvement of activist RC Ventures,” the analyst note said.
Playtech Samurai Platinum Gaming PC Intel i5 10400F RTX2060 6GB DDR4-16GB RAM 1TB Nvme SSD WIfi+BT Win 10 Home Great headset, far beyond expectations for the price. Playtech is the world's largest online gaming software supplier traded on the London Stock Exchange Main Market, offering cutting-edge, value added solutions to the industry's leading operators. Since Playtech's inception in 1999, its approach has been centred on the continual development of best-of-breed gaming products and content, and its. Playtech’s perils have been well documented, with the company having fallen off its perch of once being the FTSE100’s most valuable tech stock. The appointment of Mattingley comes at an important time for the company, as European markets face critical regulatory judgements and US gambling reawakens to its post-Covid future, where incumbents. Playtech mentioned in the official announcement that the company is planning to take advantage of the broad experience of Mattingley to focus on growth. Founded in 1999, Playtech is listed on the London Stock Exchange and has nearly 6,400 employees across 24 countries. The ideas and technological innovations today that could change our world in the future.