GameStop soars, and Wall Street bends under the pressure

GameStop shot up more than 70% in midday trading

January 29, 2021 11:20 am

Associated Press,

NEW YORK (AP) — GameStop’s stock is back to the races Friday, and the overall U.S. market is down again, as the saga that’s captivated and confused Wall Street ramps up the drama.

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GameStop shot up more than 70% in midday trading, clawing back most of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again.

GameStop has been on a stupefying run this month and become the battleground where swarms of smaller investors see themselves making an epic stand against the financial elite. The S&P 500 was down 1.5%.