GameStop (GME) Stock: Why It Jumped Up Over 11% Today

By Amit Chowdhry ● Aug 8, 2022
  • The stock price of GameStop (GME) increased by over 11% during intraday trading today. This is why.

The stock price of GameStop (GME) increased by over 11% during intraday trading today. There are no company-specific reports or notable regulatory filings that are driving up the price so it appears there are external factors at play.

In this case, it appears that the stock price is being driven by a sympathy play associated with a meme stock short squeeze rally. There has been a surge in discussions about meme stocks on message boards like Reddit, Discord, Twitter, StockTwits, and Facebook Groups today.