The defining stock of the meme stock frenzy, GameStop (GME), is again in the limelight after its shares soared by over 15% over the past month. A set of strong numbers for the most recent quarter and a unique dividend announcement have been identified as the primary reasons for the recent rally.
However, from its meme stock heydays of early 2021, when its market cap reached levels of about $34 billion, GameStop's current market cap is almost one-third of those levels. And despite the recent jump, GME stock is down 15% on a year-to-date (YTD) basis. Coincidentally, analyst coverage has also reduced by the same quantum.
