GameStop Corp. shares. entered Monday, following a major trip to the slow seller.
The stock jumped about 16% in trading recently to $ 46.78, recovering some of its losses from last week. The shares have lost some tenths of their value since going up at $ 483 in intraday trading at the end of the month.
The big move in the company’s shares comes after Keith Gill, the man behind the Reddit-led frenzy in stock GameStop, announced a larger share in late Friday. A new screenshot posted on Reddit by DeepF — ingValue, its online username, showed that it bought an additional 50,000 shares, bringing its total stock to 100,000 shares, worth about $ 4 million as of Friday, The Wall Street Journal reported.
The aggressive position of GameStop has already made Mr. Gill a millionaire and a hero to many individual investors, especially those on the popular WallStreetBets forum Reddit.
The latest activity is a sign that the wild ride for GameStop is not over.