Reddit darlings up for a second day; GameStop leads

Esports Entertainment

25/02/2021 16:11

(Updates after U.S. market open)
    ** Shares in so-called Reddit darling companies - favored 
by retail traders using communications channels such as Reddit's
WallStreetBets - were soaring again on Thursday with GameStop
Corp  GME.N  leading the advance
    ** Video game retailer GME up 37.9% after closing the
regular session up ~104% after an unexplained surge on
Wednesday, and jumping another 85% after hours  urn:newsml:reuters.com:*:nL1N2KU3K7
 urn:newsml:reuters.com:*:nL4N2KV2BT
    ** However, GME, in which trading was halted several times
in Thursday's session, lost some ground since the open and was
last trading at $126.44 compared with its session high of
$170.01 which came right after the open 
    ** GME still a long way off its Jan 28 peak of $483 at the
height of the Reddit trading frenzy but the stock was still
showing YTD gain of ~570%
    ** Trading volume for GME was last at 2.5 times the 10-DMA
with 45.7 million shares already changing hands compared with
Wednesday's total of 83.1 million
    ** Also, shares of esports betting firm Esports
Entertainment  GMBL.O  were up 23.7% after former GME
short-seller Citron Research said GME should buy GMBL as it
would allow GME to pivot away from its declining retail business
 urn:newsml:reuters.com:*:nL4N2KV4M5  urn:newsml:reuters.com:*:nL4N2KV4JA
    ** Helsinki-listed shares in telecom network gear maker
Nokia  NOKIA.HE  surge 6% in morning trade in Finland though its
U.S. shares were last showing a more modest 2.7% increase
 urn:newsml:reuters.com:*:nL4N2KU6LB
    ** Cinema operator AMC Entertainment  AMC.N , another Reddit
favorite, were last up 9.2% with trading volume 1.7 times 10-DMA
    ** BlackBerry's U.S. shares  BB.N  were actively traded but
ticking down 1.0%

 (Reporting by Tommy Alexander Lund and Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +1 (646) 234 1561; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))