3/10/2021, 6:27 PM (Source: TeleTrader)
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GameStop surges 39% as rally continues

Shares of video game retailer GameStop jumped 39% on Wednesday during trading on Wall Street, amid the second wave of a rally fueled by retail investors from the subreddit WallStreetBets.

Earlier this week, the company announced it formed a new "strategic planning and capital allocation committee" with the goal to speed up its digital transformation. Meanwhile, the United States Securities and Exchange Commission (SEC) announced that it is still analyzing the recent surge in GameStop's stock prompted by the Reddit community.

GameStop shares skyrocketed 37.65% to $340.50 at 12:25 pm ET. The company's stock climbed 173% over the last seven days and soared more than 1,700% since the beginning fo the year.

Baha Breaking News (BBN) / NP