GameStop, AMC both spike before paring gains

(Reuters) - Shares in Reddit-darling GameStop climbed to a session high of $147.87 as volume spiked on Thursday afternoon and the video game retailer's stock was last up 4.5% after paring some gains.

Stock last traded at $129.80 after hitting its highest point since a surge in the heavily shorted stock on Feb. 25, which was among the company's four biggest trading volume days ever. Trading volume was last at 0.5 times GameStop's 10-day moving average.

Meanwhile AMC Entertainment, another focus for Reddit investing forum Wallstreetbets, also saw a spike in trading around the same time, but after rising as high as $8.56 it quickly sunk back to negative territory and was last down 7.6%.

(This story corrects paragraph 2 to show that Feb. 25 was one of GameStop's biggest trading days ever, not the biggest)

(Reporting By Sinéad Carew, Editing by Franklin Paul)

03/04/2021 21:53

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