Why did GameStop stock surge today?

Stock Of Video Game Retailer Gamestop Skyrocketing, Due To Reddit Message Board Traders

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GameStop Corp. (GME) soared more than 29% on Wednesday to record its best session of the year.

The big gain coincided with an increase in online buzz about another short squeeze setting up on the stock.

Volume on GameStop (GME) was over 9.9M shares, which was more than double normal trading activity.

GameStop (GME) has a few catalysts coming up with earnings next week and shareholders due to vote on the stock split proposal.

On the crypto front, GameStop (GME) officially announced the launch of its digital asset wallet to allow gamers and others to store, send, receive and use cryptocurrencies and non-fungible tokens across decentralized apps without having to leave their web browsers. The GameStop Wallet is described as a self-custodial Ethereum wallet that will also enable transactions on GameStop’s (GME) NFT marketplace, which is expected to launch in the second quarter of the company’s fiscal year.

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