GameStop Stock Soars to New Heights

52 Week Range: 995 - 2765

May 13 4:15 PM GMT-4 USD NYSE

GameStop Corp (GME) shares surged on Friday, reaching a 52-week high of 2765. The surge followed positive analyst reports and rumors of a potential acquisition. As of May 13th, 4:15 PM GMT-4, GME shares were trading at 305.50, up 0.55% on the day.

MarketWatch reported that GameStop has been a major beneficiary of the retail trading frenzy that has gripped Wall Street in recent months. The stock has been a favorite of retail investors on platforms such as Robinhood and has seen its share price fluctuate wildly.

Analysts at Wedbush Securities raised their price target on GameStop to $350, citing the company's strong online sales growth and its potential to benefit from the rise of e-commerce. The analysts also said that GameStop's recent acquisition of ThinkGeek could help the company expand its product offerings and reach a wider audience.

Meanwhile, there have been rumors that GameStop could be acquired by a larger company. Amazon and Microsoft have both been mentioned as potential suitors. These rumors have further fueled investor interest in GameStop and have helped to push the stock price higher.

It remains to be seen whether GameStop can sustain its current momentum. The stock is still highly volatile and could experience significant swings in either direction. However, the positive analyst reports and acquisition rumors have provided a boost to investor sentiment and could help to drive the stock price higher in the coming weeks and months.