GameStop soars in volatile trading session

FILE PHOTO: GameStop logo is seen near displayed stock graph in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) – Shares in video game retailer GameStop were up 21.2% as volume spiked late in Monday’s session putting pressure on short sellers to cover their bets as investors discussed the so-called Reddit darling stock on social media.

While the stock pared some gains it last traded at $123.31 after rising as much as 31.7% to $133.99. It had also traded as low as $99.97 during the session. Volume was last at 1.0 times its 10-day moving average.

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