Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Shares of GameStop Jumped Today

TheMotleyFool

0 0

Shares of video game retailer GameStop (NYSE: GME) jumped on Monday after Scion Asset Management reported additional stock purchases in a filing with the Securities and Exchange Commission. The investment firm, founded and run by Michael Burry, now has a 5.3% stake in the company. GameStop stock was up about 14.3% at 12:40 p.m. EDT today.

Burry first revealed a significant stake in GameStop back in August, arguing that the balance sheet was in good shape and that the retailer's cash flow justifies a much higher share price. Burry also argued for a massive share buyback program, given the beaten-down stock price.

Image source: Getty Images.

Source Fool.com

Like: 0

GME

Share