So you thought the GameStop saga was over...
From CNN Business' Anneken Tappe
Remember GameStop? From last month's madness? If you thought we were done with that chapter of trading, you're not alone.
But little did we know.
As the market is rallying,
GameStop (GME) and other "meme stocks" haven't been left behind. Shares soared enough — more than 41% — that the New York Stock Exchange had to briefly halt their trading.
GameStop's peak today was $348.50, just above its record closing high from late January. And then it fell again, down nearly 20% midday. Phew.
Why's the market up today? This morning's consumer price report soothed investors' worries about a sudden inflation spike. Instead the market has time to focus on good news, like the stimulus package passed over the weekend.