Why GameStop Stock Rebounded Today
Shares of GameStop (NYSE: GME) rallied on Friday following a steep fall in the video game retailer's stock price from its recent highs over the past week. By the close of trading, GameStop's stock price was up 19.2% after rising as much as 77.6% earlier in the day.
After an epic short squeeze fueled a surge in GameStop's share price to a high of $483 on Jan. 28 -- up from $18.84 on Dec. 31 -- the stock began to sell off. Trading restrictions imposed by Robinhood and other brokerages that limited how many GameStop shares investors could buy no doubt contributed to the decline.
GameStop's stock recovered some of its recent losses on Friday. Image source: Getty Images.
Source Fool.com
