GameStop jumps nearly 19%; 'meme stocks' fade after another wild ride

FILE PHOTO: People enter a GameStop store during "Black Friday" sales in Carle Place, New York November 25, 2011. REUTERS/Shannon Stapleton/File Photo

(Reuters) - GameStop Corp shares rallied on Thursday, finishing with double-digit gains despite a sharp retreat from session highs and leading a surprise resurgence of so-called "stonks" championed online by passionate retail investors.

GameStop shares, which doubled their value on Wednesday, hit $160 at Thursday's open before being halted after several minutes of trading and fell to around $129 before the second halt. The stock closed for the day at $108.73 for an 18.5% gain, after soaring almost 90% at the session peak.