- NYSE:GME gained 12.96% during Tuesday’s trading session.
- Meme stocks climb higher as sector volatility continues into 2022.
- Zacks Investment Research provides an upgrade to GameStop’s stock.
NYSE:GME saw its strongest single-day performance so far in 2022 on Tuesday, as the original meme stock rallied from a slow start to the week. Shares of GME surged by 12.96% and closed the trading session at $115.60. There has been some buzz around GameStop recently after the company officially announced Immutable X as its blockchain partner for its upcoming NFT Marketplace. Shares of GameStop are still down by over 24% in 2022, as the stock trades at some of its lowest levels since the original short squeeze in January of 2021. Meme stocks soared on Tuesday alongside the broader markets where all three indices closed the session in the green.
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GameStop’s running mate, AMC (NYSE:AMC), also had one of its best sessions in recent memory as shares gained 10.19% on Tuesday. Other meme stocks trading in the green included BlackBerry (NYSE:BB), Vinco Ventures (NASDAQ:BBIG), and SmileDirectClub (NASDAQ:SDC). Former President Donald Trump’s SPAC stock Digital World Acquisition Corp (NASDAQ:DWAC) inched higher on Tuesday after shares tumbled following the report of another delay in his upcoming social media app, Truth Social. Shares of DWAC gained 0.81% during Tuesday’s session.
GME stock news
Online investment research site, Zacks Investment Research, provided an upgrade for GameStop’s stock on Tuesday. The site upgraded its rating from Strong Sell to Hold and provided an updated price target for the stock of $108.00 per share. This represents a slight downside from Tuesday’s closing price, which is still higher than the median analyst price target of $82.25.
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