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GameStop's Gargantuan Gamma Squeeze

TheMotleyFool

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Video game retailer GameStop (NYSE: GME) has been experiencing breathtaking volatility throughout the month, particularly yesterday when the stock was up as much as 145% before dipping into the red by 6% and finishing out the day up 18%. Trading on the stock was halted 9 times throughout the day due to volatility.

Much of the recent activity has been attributed to WallStreetBets, a growing community of retail traders on Reddit. The bullish thesis is that Chewy co-founder Ryan Cohen, who has accumulated a significant stake in GameStop as an activist investor and secured a seat on the board of directors, will be able to help engineer a turnaround and accelerate the company's digital transformation.