Zinger Key Points
- GameStop stock rises again on Monday, providing further evidence of a meme stock rally.
- The company is set to report its third-quarter earnings on Wednesday.
- Get Monthly Picks of Market's Fastest Movers
GameStop Corporation GME shares traded higher on Monday. The stock's surge over the past week has once again sparked retail investor interest.
What To Know: Since last Tuesday, shares of GameStop have soared nearly 50%, leading to speculation that another meme stock rally is in the works.
In addition to large gains in GameStop stock, other so-called meme stocks are on the rise as well, including Carvana Co. CVNA, Tupperware Brands Corporation TUP, AMC Entertainment Holdings, Inc. AMC.
While the rally's strength was brought into question when shares pulled back sharply last Thursday, the stock has come roaring back on Monday, trending on Yahoo Finance and rising nearly 14%.
Amid the recent excitement surrounding GameStop stock, investors also eagerly await the company's third-quarter earnings, to be released after the close of the market on Dec. 6. GameStop is expected to report a quarterly loss of eight cents per share and revenue of $1.18 billion.
Related Link: What's Going On With Sirius XM Stock Today?
GME Price Action: Shares of GME were up 11.1% at $16.99 at the close of the market, according to Benzinga Pro.
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