Stock Market Today: The Dow Jones fell Tuesday, as Nvidia stock surged to record highs. GME stock soared on a stock sale. Read More...
Meme stock GameStop jumps after raising $933 million in share sales
GameStop surged as much as nearly six times its value in the first two weeks of May, partly fueled by the online return of “Roaring Kitty” Keith Gill, a key figure in the 2021 retail trading frenzy. The stock has since lost 70% of its value up to Friday’s close, taking GameStop’s market value to $5.82 billion. Tuesday’s move could hurt short sellers of GameStop’s shares, who bet on a stock’s decline.
Reuters•
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