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GameStop Corp.’s stock spiked past $150 Monday, then plummeted to a loss on the day in another volatile session as loyalists and short sellers clashed over the value of the videogame retailer.
GameStop GME, 105.84% shares flew as much as 144% higher to an intraday record of $159.18 earlier Monday while being halted several times. Soon after, shares briefly fell into the red on the day, before settling at around a 20% gain in the second half of the trading day.
The stock finished up 18% at $76.79, a record-high close. More than 175 million shares exchanged hands by the close on a stock that’s averaged daily volume of less than 9 million shares over the past 52 weeks. Friday’s volume for GameStop’s stock was a record-high 197.2 million shares.
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