GME - Investors Bet On GameStop Surge: Anticipation For 28% Rise Next Week As Meme Stocks Regain Popularity | Benzinga
In the lead-up to GameStop‘s (NYSE:GME) third-quarter earnings report, investors are showing renewed interest in the company’s stocks, betting on a significant rise.
What Happened: Traders are heavily investing in deep out-of-the-money call options for GameStop stock. They are speculating that the stock price will surge about 28% from current levels to above $20 before Dec. 8, Business Insider reported.
The call options tied to GameStop expiring on Dec. 8 have seen increased trading volume recently, with over 15,000 contracts open as of Wednesday. More than 4,000 of these contracts traded hands during the first 30 minutes of Wednesday’s trading session.
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Why It Matters: GameStop’s earnings report is due after the market closes on Dec. 6 and traders are hoping that it will trigger a spike in the stock price. The company’s stock has already seen ...