Historic Week for GameStop Ends With 400% Rally as Shorts Yield
- Company value rose to $22.7 billion from $4.5 billion in week
- Shares surged 1,625% so far this year as the market churned
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In its 19-year history on the U.S. stock market, GameStop Corp. has never experienced a journey like this -- record volatility, multiple trading halts and an $18 billion boom in market value.
The video-game retailer soared 400% this week even as brokerages including Robinhood Markets clamped down on retail trades that burned short sellers and hedge funds. Its shares have gained 1,625% so far this year, and at one point it briefly took the No. 1 spot on the Russell 2000 Index from Plug Power Inc.