Here's Why GameStop Stock Surged More Than 15% Today
Shares of video game retailer GameStop (NYSE: GME) jumped almost 17% Monday morning after it released holiday sales data and announced an agreement with activist investor RC Ventures.
As of 10:30 a.m. EST today, shares had settled back to 9% above Friday's closing price.
GameStop has been struggling to turn its business around as consumers converted to online channels for video game purchases. Store closures during the pandemic accelerated the retailer's need to transform its business, and results from the 2020 holiday period show that the transformation may be taking hold.
Source Fool.com