GameStop (GME) stock halted twice as shares jump over 100% today

GameStop (GME) is on the rise once again, as the stock was up over 100% today.

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If you thought the ongoing situation around GameStop’s (GME) stock was over, then think again. The stock was on fire today, soaring over 100 percent, and being halted twice in the process.

The market closed at 4 p.m. ET on February 24, and in the hour leading up to the closure, GameStop (GME) exploded. The stock shot up over 100%, ending the day at a valuation of $91.71. GME had seen a small rise throughout the day, catapulting after 3 p.m. ET. The sudden spike was enough to cause GameStop (GME) to be halted twice.

It’s also noteworthy that Reddit is down at the time that this article is being written. If you’re unaware of the relevance, Reddit is home to r/WallStreetBets, the subreddit community that’s been a driving force behind the GameStop (GME) stock’s volatility over the past several weeks. It’s likely that a high surge in traffic caused the website to temporarily crash.

The GameStop (GME) situation first blew up back in January when the stock hit an all-time high following a short squeeze. The fallout included Robinhood restricting users’ ability to trade, as well as legal hearings. We'll continue to update this story as new information becomes available.

Contributing Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Star Wars nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

From The Chatty
  • reply
    February 24, 2021 12:56 PM

    Donovan Erskine posted a new article, GameStop (GME) stock halted twice as shares jump over 100% today

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      February 24, 2021 12:51 PM

      What's going on with GME, just shot up. Squeeze on again?

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        February 24, 2021 12:52 PM

        buy, buy, buy

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        February 24, 2021 1:08 PM

        Oh god, I can't do this again.

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        February 24, 2021 1:10 PM

        lol good thing Im still in it.

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        February 24, 2021 1:10 PM

        [deleted]

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        February 24, 2021 1:14 PM

        Holy shit- is Reddit down for other people too? Did Gamestop mania kill it?

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        February 24, 2021 1:15 PM

        The old farts in Congress are going to get cranky again.

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        February 24, 2021 1:22 PM

        Here we go again!!!

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        February 24, 2021 1:23 PM

        It ended the day with a 14 minute halt. I thought halts were usually five minutes. Do they have different rules on them that close to end of day?

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        February 24, 2021 1:26 PM

        Ok I'm in this time lol

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        February 24, 2021 1:28 PM

        I picked the wrong time to transfer all my $$ out of Robinhood without having my Fidelity account funded yet...

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        February 24, 2021 1:29 PM

        AMC baby

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        February 24, 2021 1:32 PM

        No way, really? 85% chance it gets dumped pre market tomorrow morning.

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        February 24, 2021 1:33 PM

        💎🙌🚀🌑

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        February 24, 2021 1:37 PM

        I don't think my heart can take another trip on this ride.

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        February 24, 2021 1:37 PM

        My puts are gonna be worth pennies soon

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        February 24, 2021 1:42 PM

        $145. I'm in at $109.

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        February 24, 2021 1:51 PM

        Up to 184 so far after hours - ugh damnit I knew I should have bought earlier. Was actually going to pickup a bunch while it was in the 40's to hold for a bit but never got around to getting my Fidelity account funded.

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          February 24, 2021 2:00 PM

          2/26 $800C is up +12000% today

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            February 24, 2021 2:11 PM

            lol I should’ve been playing both sides!

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              February 24, 2021 2:16 PM

              I’ve got Puts expiring in March, but haven’t been touching Calls since it wasn’t moving. I should have been making YOLO bets :(

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                February 24, 2021 2:18 PM

                Yeah my puts are expiring in March and April. They’re all down like 75%+ but at this point, YOLO so why sell these worthless shit contracts

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            February 24, 2021 2:21 PM

            lottery tickets

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      February 24, 2021 12:58 PM

      wtf is going on.

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        February 24, 2021 1:33 PM

        We're going to the moon. We were always going to the moon. Paper hands just decided the journey was too long.

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          February 24, 2021 1:50 PM

          $188. This is hilarious.

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          February 24, 2021 2:17 PM

          I've been upside down on my shares, no paper hands here!

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      February 24, 2021 1:43 PM

      LOL not again! here we gooooooo. wonder which platforms are going to auto-sell after hours :D

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        February 24, 2021 2:26 PM

        No that was announced prior to the surge

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          February 24, 2021 3:12 PM

          That's what I was getting at, did the surge happen because of a company change?

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            February 24, 2021 4:17 PM

            No I don't think that's the reason. The timing is way off. Shorts are covering in aftermarket and they timed it so retail traders would take notice before market close. My guess is deals are in place with institutions to cover the shorts after market and tomorrow when FOMO runs this up even higher they will re-short. This is a somewhat different situation from a month ago just by how quickly it ramped up. There was a much slower run up last time.

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              February 25, 2021 3:53 AM

              Wonder if it will peak right at open, or if there is a quick buck to be made today. Assuming it rises at open, couldn’t I buy, set a trailing stop loss and be pretty safe? If it doesn’t trigger at some point just make sure to sell before the day is out.

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      February 24, 2021 2:24 PM

      lol my AMC stock shot up too. Alright then.

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      February 24, 2021 2:24 PM

      I got out at $154 and am fine with that. Not sure this is still headed to the moon.

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        February 24, 2021 2:26 PM

        your paper hands are showing

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          February 24, 2021 2:49 PM

          My Andrew Jackson paper hands are showing! $40 up and time to retiiiiiiire!

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        February 24, 2021 3:13 PM

        I've got a sell order for $400. I'm still up, so whatever.

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      February 24, 2021 4:06 PM

      I got an alert for this shack post from google news, so, thanks virus

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      February 25, 2021 3:24 AM

      Not again! I can’t take it.

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