Games and entertainment company GameStop Corp. (GME) in Grapevine, Tex., made headlines last year due to the dramatic rise in its share price on speculative trading by retail investors. But the stock could not sustain its premium price due to its weak fundamentals. However, GME has been gaining traction lately amid renewed investor interest in meme stocks.
GME shares have surged 53.4% in price since hitting their 52-week low of $77.58 on March 14, 2022, closing the last session at $142.39. The videogame retailer’s shares were also boosted by Chairman Ryan Cohen buying 100,000 shares of GME through his investment company RC Ventures, bringing his ownership to 11.9%. GME shares are up 18.3% over the past year and 14.3% over the past month.
