GameStop Stock Is Spiking Again After GameStop CFO Jim Bell Resigns

Update: GameStop’s stock is on the rise once again. Following the news of CFO Jim Bell’s impending departure from the company, the company’s stock price remain largely unchanged over the course of February 24. However, before market close, it spiked from the mid-$40 range to almost $92–roughly a 100% increase. In after hours trading, those rose even further, and it started out today, February 25, at a whopping $170. That has since decreased to $135 at the time of this writing, but it’s still a significant increase over the $40-$50 range that it had settled into for much of this month. Of course, it pales in comparison to the $300+ it was trading at toward the end of January.

Perhaps coincidentally, other stocks that were targeted by Reddit’s WallStreetBets subreddit, such as AMC, have also seen a spike over the last day. And for a period of time late on Wednesday, Reddit–the entire site, not just the WSB subreddit–went down. That could be due to a sudden influx in traffic from people seeking out WSB’s advice, as there were celebratory messages posted on WSB in reaction to the GameStop share price.

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