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Source: quietbits / Shutterstock.comGameStop (NYSE:GME) stock is jumping on Friday as investors celebrate a short squeeze sending shares higher.
Specifically, investors are reacting to news from ORTEX that short interest jumped yesterday. That came among heavy trading volume and resulted in traders on social media chatting about the meme stock.
ORTEX noted that while its website showed a massive jump in short interest in GME stock yesterday, that might not have been the case. Instead, it alerted traders on Twitter (NYSE:TWTR) to the issue and said it would be investigating what was behind it.
What This Means for GME Stock
GME stock is one of the original meme stocks that caught the interest of traders back in 2021. Since then, it’s not been uncommon for the video game retailer’s shares to take off on the slightest bit of news.
That’s something investors will want to keep in mind about GME stock. Also, while the shares may see massive gains, they typically aren’t sustainable with the retailer’s shares sliding in the following days.
As far as activity goes today, some 2.3 million shares of GME stock are on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 5.4 million shares.
GME stock is up 4.1% as of Friday morning. However, those shares are still down 29.4% since the start of the year.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market coverage traders need for Friday! A few examples include what’s going on with shares of Selina Hospitality (NASDAQ:SLNA), Amazon (NASDAQ:AMZN). and Nio (NYSE:NIO) stock today. You can catch up on all of that news at the following links!
More Friday Stock Market News
- What Is Going on With Selina Hospitality (SLNA) Stock?
- Amazon (AMZN) Stock Is Plunging. What Comes Next?
- Why Is NIO Stock Down 5% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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