GameStop shares continued to pop early Friday, potentially stretching gains to nearly 200% for the week, during which retail investors restarted the buying frenzy surrounding the video-game retailer's stock.
Shares rose as much as 19% in heavy volume ahead of the opening bell, hitting a high of $129.60. The sudden surge in shares on Tuesday put the stock on course to rise by 188% for the week should the stock claim the premarket high through Friday's session.
GameStop this year has been at the center of a mission by day traders on Reddit to squeeze short positions on GameStop's stock, leading to massive losses for hedge funds and a congressional hearing.
The pickup in action this week led to short sellers losing $664 million on Wednesday as the shares on Tuesday soared by 104% in the final 30 minutes of trading, according to S3 Partners, a financial data services firm.
Also this week, GameStop said Chief Financial Officer Jim Bell will leave in late March, which will be less than two years into his work at the retailer.
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