GameStop (NYSE:GME) stock is a hot topic among traders on Monday as recent volatility has investors wondering if meme trading is making a return.
The big news here is that GME stock managed to rally more than 50% over two days last week. That increase in price came without any news concerning the company. This had some traders wondering if meme traders were behind the movement.
Now traders are seeing shares of GME stock give up some of those gains on Monday. And just like last week, there’s no news that explains why shares are sliding lower today.
What is worth noting is the heavy trading of GME stock on Wednesday afternoon. That has more than 20 million shares changing hands as of this writing. That’s already well above its daily average trading volume of about 4.2 million shares.
What’s Next for GME Stock?
That all depends on how meme stock traders are feeling. If they continue to bet on the video game retailer’s shares, we could see the company undergo another rally in the near future.
On the flip side, this really could have been a short-lived rally for GME stock. If that’s the case, the company is likely going to give up even more of last week’s gains in the days to come.
GME stock is down 15.8% as of Monday afternoon.
Investors looking for even more of the latest stock market stories are going to want to stick around!
We have all of the hottest stock market news traders need to know about on Monday! That includes everything happening with shares of SoFi (NASDAQ:SOFI) stock, Trump Media & Technology (NASDAQ:DJT) stock and more. All of that info is ready to go at the links below!
More Monday Stock Market News
- CEO Anthony Noto Just Bought Nearly $200,000 Worth of SoFi Stock
- DJT Stock: Trump Media Fires Accounting Firm, Hires Replacement After SEC Charges
- ZK Stock IPO: When Does Zeekr Go Public? What Is the Zeekr IPO Price Range?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
