Personal Finance

GameStop stock rockets toward biggest gain in 5 months

GameStop Corp.
GME,
+27.55%

investors are having their best day in five months on Tuesday despite no news released, as the video game retailer appears to have renewed its status as a meme stock. The stock soared 26.0% in afternoon trading, on track for the biggest one-day gain since it rocketed 52.7% on March 25. There are no new press releases on the company’s website, and the company did not file anything with the Securities and Exchange Commission in over a month. The stock was also headed for the first double-digit percentage gain since it rose 10.2% on July 20, and the first time it rose more than 20% since it did so three times in March. Also catching the meme wave, shares of movie theater operator AMC Entertainment Holdings Inc.
AMC,
+20.01%

jumped 19.3%, also on no apparent news released, as the shares headed for the biggest gain since it rallied 24.5% on July 20. The rallies are coming on a day that the Nasdaq Composite
COMP,
+0.54%

rose 0.6% to top the 15,000 mark for the first time, and the S&P 500
SPX,
+0.21%

rose 0.3% toward a record close. Meanwhile, shares of commission-free trading platform Robinhood Markets Inc.
HOOD,
+8.60%
,
seen as a haven for the trading of meme stocks, rallied 8.6% in afternoon trading.

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