Why GameStop Stock Popped 13% Thursday
Shares of video-games retailer GameStop (NYSE: GME) scored big last week when a partnership announced with Microsoft (NASDAQ: MSFT) sent the shares flying 44% in a single day of frenzied trading. Investor enthusiasm soon waned, however, as critics began chiming in, complaining that "the substance in the press release was hollow" and that it appeared Microsoft was "taking advantage of GameStop's desperation, forcing them to share in subscription sales as their core market evaporates," reported TheFly.com last week.
This negative sentiment reversed on Thursday, however, in the wake of positive commentary on the deal from Wisconsin's Domo Capital Management, driving GameStop stock up 12.9% in Thursday trading.
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Source Fool.com
