Why GameStop and Other Meme Stocks Soared This Week

In true meme stock fashion, shares of GameStop (NYSE: GME) soared this week with no company news. The biggest gains came Tuesday when the stock jumped 27.5%, and other Reddit favorites joined the party. As of Friday midafternoon, GameStop shares were up 28.4% for the week, and fellow meme stocks BlackBerry (NYSE: BB) and Celsius Holdings (NASDAQ: CELH) were 18% and 15% higher, respectively. 

GameStop will next report its financial results on Sept. 8. Besides the fact that there was no fundamental news from these names this week, there's another reason the surge in share prices is curious. 

Image source: Getty Images.

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Source Fool.com