Why GameStop Was Jumping Higher Today

Shares of GameStop (NYSE: GME) were jumping 7.5% higher in afternoon trading Tuesday on no news specific to the video game retailer, though the market in general was running higher on COVID-19 vaccine developments.

The prospects of widely available vaccines got a big boost after the Food & Drug Administration said Moderna's (NASDAQ: MRNA) coronavirus therapy is "highly effective" and met all the requirements for emergency use. It follows the approval for use of the vaccine developed by Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX).

Image source: Getty Images.

Continue reading

Source Fool.com