Trading in the Grapevine, Texas, videogame retailer’s shares on Wednesday has been halted at least four times for volatility. They recently traded at $263.86, up 6.9%.
The stock in Wednesday trades has bounced around in a range of $172 to more than twice that at $348.50. It traded at $483 in January -- and $2.57 early last April.
Individual investors expressing themselves in the Reddit chats have been a big part of the stock’s move up and down in recent months.
One user’s posting about GameStop on Reddit’s wallstreetbets section Wednesday simply read: “HolyMoly,” typed over and over again.
Another post read: “GME broke $300! let's keep this rocket going so strong it makes Papa Elon proud.” The poster was referring to a Jan. 26 tweet from Elon Musk that read “Gamestonk!!”
To be sure, not all the Reddit commentary on GameStop was positive Wednesday.
“All this price movement in a matter of months can make an investor queasy,” read a Motley Fool commentary posted by a Reddit user. “It’s better to invest in stocks that are less volatile and have more promising long-term prospects.”
GameStop said it has created an inter-company committee, which includes Cohen, to "identify initiatives that can further accelerate the company’s transformation."