GameStop ends up 7.3% after wild swings, other 'meme stocks' soar

Shares of GameStop closed at US$265 following turbulent trading that saw them rise by as much as 41% to a peak of $348.50, a move some analysts said was accelerated by bearish investors unwinding bets against the stock.

NEW YORK: GameStop ended 7.3% higher on Wednesday after wild gyrations in the resurgent rally that has vaulted shares of the video game retailer and other so-called meme stocks closer to the peaks of late January.

Shares of GameStop closed at US$265 following turbulent trading that saw them rise by as much as 41% to a peak of $348.50, a move some analysts said was accelerated by bearish investors unwinding bets against the stock.