GameStop stock jumps 100% after company CFO leaves

Hold the kill screen, GameStop may have just leveled up.

In a day of trading reminiscent of recent wild rallies, stock for video game store GameStop surged once again on Wednesday, closing at $91.71 and climbing over $120 in after-hours trading, ending up 103% higher than yesterday’s closing price.

According to Bloomberg News, the rise was likely attributed to CFO Jim Bell announcing his resignation on Tuesday. Bell was reportedly ousted by Ryan Cohen, co-founder of Chewy and GameStop board member. Cohen owns 13% of GameStop. Trading of GameStop stock was even halted twice on Wednesday, the Verge reported.

The stock rallied earlier this year, topping out at $483, after it became championed by a Reddit board dedicated to the stock market called Wall Street Bets.

The traffic to Reddit was causing outages across the community, apparently from a rush of new posts and comments on Wall Street Bets.

The current “hottest” posts on the board, a clip of CNBC anchors discussing the new round of wild surges for GameStop, has received more than 41,000 “upvotes” since it was posted Wednesday afternoon.

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