Is It Time to Buy GameStop Stock?
Once again, retail investors are flooding into GameStop(NYSE: GME), sending shares of the embattled video game retailer soaring almost 200% in just over a week. Is the rally part of another Reddit-driven pump-and-dump scheme, or will this time be different? Let's dig deeper to find out if GameStop's fundamentals justify these massive gains.
In late January, retail investors coordinated on social media to drive up the share price of heavily-shorted companies in order to trigger short squeezes. The strategy worked initially, sending stocks like GameStop, AMC Entertainment, and BlackBerry sky high before they quickly fell back down to earth.
Source Fool.com
