Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
GameStop (GME) Can't Stop Won't Stop
GameStop (GME - Free Report) shares have ripped over 30% higher in the past two trading sessions. GME has soared back towards the $250 range following news that the enterprise is building out a non-fungible token (NFT) platform on Ethereum’s blockchain.
There have been rumors that GameStop would be dipping its toes into cryptocurrencies & NFTs. GameStop’s new NFT webpage confirmed speculation about their ventures into digital assets, which has retail traders on WSB going gangbusters.
This announcement didn’t just spur a rally in GME shares but has AMC (AMC - Free Report) soaring as well. WSB traders have turned AMC and GME into gambling tools. You can see this gambling mentality with the outsized price action in AMC on news that had nothing to with the company.
Ryan Cohen, co-founder of the e-commerce giant Chewy turned activist investor, has been the knight in shining armor that GameStop needed. Still, GameStop is worth nowhere near to its present $16.8B valuation in its current state.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>