GameStop Bucks Market’s Slump Amid Renewed Reddit Chatter
- Video-game retailer jumped 6.6% despite broader market’s drop
- Initial spike came minutes after activist Ryan Cohen’s tweet
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GameStop Corp. erased earlier losses to rise to the highest level since Feb. 1 as a wave of Reddit users appeared to rush back into its shares.
Shares of the video-game retailer quickly accelerated starting around 2:25 p.m. in New York amid a renewed rush of Reddit posts touting the stocks. Movie theater chain AMC Entertainment Holdings Inc. and headphone maker Koss Corp., both retail investor favorites, jumped alongside GameStop to briefly turn positive Thursday before closing lower.