Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%. GameStop’s trading volume was roughly three times higher the five-day average for the stock, according to data provider Refinitiv.
Less than an hour after the closing bell, the stock was on the move again — gaining nearly 90% in after-hours trading.
Redditors on WallStreetBets cheered as GameStop soared. Posts on the subreddit included diamond emojis (a reference to holding a stock long term) and titles like “NEXT STOP IS THE MOON BABY” with rocket emojis, representing a belief that the stock will continue its upward trajectory.
Around 4pm, the entire Reddit site was down for many users, though the company did not identify the cause of the outage. Within about half an hour, Reddit said it had identified the underlying issue and “systems are beginning to recover.”
World News || Latest News || U.S. News
Help us to become independent in PANDEMIC COVID-19. Contribute to diligent Authors.