Why GameStop Stock Is Surging Today

GameStop Corp GME shares are trading higher on above-average volume Wednesday as the stock trends across social media platforms.

GameStop was the top-trending ticker on Stocktwits at press time. It was also the most-mentioned stock on the Subreddit r/wallstreetbets over the last 24 hours. The stock is extremely popular among retail investors. 

Companies in the broader retail sector were also trading higher following strong earnings from multiple retail companies. Nordstrom Inc JWN, Dick's Sporting Goods Inc DKS and Express Inc EXPR are among the retailers surging Wednesday following strong financial results. 

See Also: Why Express Stock Is Surging Today

GameStop's average session volume over a 100-day period is about 4.4 million, according to data from Benzinga Pro. Wednesday's trading volume has already exceeded 7.7 million at press time.

GameStop is scheduled to announce its first-quarter fiscal 2022 financial results after the market closes on June 1.

GME Price Action: GameStop has traded between $77.58 and $344.66 over a 52-week period.

The stock was up 26.6% at $112.70 at time of publication.

Photo: JJBers from Flickr.