---
title: "GameStop Extends Meteoric Stock Surge on Boost From Musk Tweet"
description: "(Bloomberg) -- GameStop Corp. continued its skyward march in U.S. premarket trading after an Elon Musk tweet fanned the flames of the stock’s jaw-dropping rally that has sent the company’s market value surging beyond $10 billion."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Newsdeck"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2021-01-27-gamestop-extends-meteoric-stock-surge-on-boost-from-musk-tweet/"
published: "2021-01-27T12:25:32"
lang: "en-ZA"
word_count: 173
---

# GameStop Extends Meteoric Stock Surge on Boost From Musk Tweet

> (Bloomberg) --
 
 GameStop Corp. continued its skyward march in U.S. premarket trading after an Elon Musk tweet fanned the flames of the stock’s jaw-dropping rally that has sent the company’s market value surging beyond $10 billion.

By Bloomberg · Published 27 January 2021, 14:25 SAST

## Content

By Paul Jarvis

Jan 27, 2021, 11:37 AM

Word Count: 220

The stock rose as high as $260, up 76% from the last close of $147.98. That followed Tuesday’s 93% surge, which meant GameStop has risen more than eightfold this month in a dizzying rally fueled by Reddit-charged day traders.

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Following a frenzied session on Tuesday, the stock’s gains reached new extremes outside regular hours after Tesla Inc. chief Musk [tweeted a link](https://twitter.com/elonmusk/status/1354174279894642703) to a Reddit thread about the company. Famed fund manager Michael Burry [warned](https://www.bloomberg.com/news/articles/2021-01-27/michael-burry-calls-gamestop-gain-unnatural-insane-dangerous) that the manic rally has gotten out of hand, calling the stock’s rise “unnatural, insane, and dangerous.”

[GameStop Shares Almost Always Plunge Following Earnings Reports](https://www.bloomberg.com/news/articles/2021-01-26/gamestop-shares-almost-always-plunge-following-earnings-report)

GameStop’s surge has captivated Wall Street and stymied short sellers including Gabe Plotkin’s Melvin Capital and Andrew Left’s Citron Research. It has also spurred calls for a Securities and Exchange Commission investigation, though experts say it’s difficult to prove chat-room posts are part of an illicit scheme to manipulate the market.

[GameStop Is Rage Against the Financial Machine: John Authers](https://www.bloomberg.com/opinion/articles/2021-01-27/gamestop-short-squeeze-is-rage-against-the-financial-machine)