What's Been Going On With GameStop Stock?

GameStop Corporation GME shares traded higher on Wednesday, adding to gains of more than 13% over the past month. Here's a look at what has happened.

What To Know: GameStop stock appears to be moving on the back of retail investor support once again as shares have attempted to rally over the past several weeks.

Although the move higher has not been as swift as it was during the meme stock craze, the stock has continued to make higher highs and higher lows, rejecting several attempts by sellers to push shares lower.

The strength of the recent rally was brought into question in early December when shares began to sell off. However, the stock persisted higher, strengthening its upward momentum.

Despite considerable volatility as the month progressed, especially during the company's earnings period, the stock was able to break past key resistance in late December and reach levels not seen since September.

Shares have charged higher over the past several days after making another higher low last week, but the stock is moving on below-average volume. The meme stock is certainly still capable of making outsized moves given its high short interest of 23.68%, according to Benzinga Pro. It's worth noting, however, that Wednesday's trading volume of 4.75 million was below GameStop's 100-day average of 6.11 million.

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GME Price Action: Shares of GameStop closed Wednesday up 5.76% at $18.36, according to Benzinga Pro. 

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