GME Stock Price: Gamestop surges as meme stocks jump higher during bullish session

NYSE:GME gained 12.96% during Tuesday’s trading session.
Meme stocks climb higher as sector volatility continues into 2022.
Zacks Investment Research provides an upgrade to GameStop’s stock.

Stocks Reporter FXStreet

NYSE:GME saw its strongest single-day performance so far in 2022 on Tuesday, as the original meme stock rallied from a slow start to the week. Shares of GME surged by 12.96% and closed the trading session at $115.60. There has been some buzz around GameStop recently after the company officially announced Immutable X as its blockchain partner for its upcoming NFT Marketplace. Shares of GameStop are still down by over 24% in 2022, as the stock trades at some of its lowest levels since the original short squeeze in January of 2021. Meme stocks soared on Tuesday alongside the broader markets where all three indices closed the session in the green.

Stay up to speed with hot stocks' news!

GameStop’s running mate, AMC (NYSE:AMC), also had one of its best sessions in recent memory as shares gained 10.19% on Tuesday. Other meme stocks trading in the green included BlackBerry (NYSE:BB), Vinco Ventures (NASDAQ:BBIG), and SmileDirectClub (NASDAQ:SDC). Former President Donald Trump’s SPAC stock Digital World Acquisition Corp (NASDAQ:DWAC) inched higher on Tuesday after shares tumbled following the report of another delay in his upcoming social media app, Truth Social. Shares of DWAC gained 0.81% during Tuesday’s session.

GME stock news

Online investment research site, Zacks Investment Research, provided an upgrade for GameStop’s stock on Tuesday. The site upgraded its rating from Strong Sell to Hold and provided an updated price target for the stock of $108.00 per share. This represents a slight downside from Tuesday’s closing price, which is still higher than the median analyst price target of $82.25.

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

GBP/USD stays weak below 1.3250 on UK politics, PMIs eyed

GBP/USD loses ground below 1.3250 in the European session on Tuesday. Political uncertainty in the United Kingdom continues to weigh on the British Pound, while the US Dollar capitalizes on the risk-off mood and hawkish Fed bets. The UK and US S&P Global preliminary PMI data are next of note for the major.

EUR/USD stays below 1.1450 after weak German PMI data

EUR/USD struggles to stage a rebound and trades below 1.1450 in the European session on Tuesday, after the data from Germany showed that the Composite PMI declined to 48 in June from 48.8 May. Meanwhile, the US Dollar holds the upper hand against the Euro amid risk-off sentiment and a hawkish Federal Reserve stance, leaving the pair on the defensive. Traders now await PMI data for the Eurozone, and the United States.

Gold drops to nearly two-week low, seems vulnerable amid Fed hike bets, bullish USD

Gold adds to its Asian session losses, and drops to a nearly two-week low, around the $4,115 region in the last hour amid a bullish US Dollar. Despite positive signals from US-Iran peace talks, widespread skepticism remains toward a final deal. This helps the USD in preserving its recent strong gains to the highest level since May 2025.

Bears cap Solana below $75 as ETF, retail demand wanes

Solana edges below $72 risking a third consecutive day of losses that could erase the 5% gains from Friday. SOL-focused Exchange Traded Funds reflect muted demand from institutional investors following a minor recovery last week. Meanwhile, retail trading activity hints at a bearish positional buildup.

Big day of PMIs ahead

In the euro area, June flash PMIs are released. Most respondents will likely have answered after the US-Iran deal, yet the impact of lower oil prices is unlikely to already show up in activity data. We expect manufacturing to edge down to 50.9 (May: 51.6), while we expect services to see a modest improvement to 48.8 (May: 47.7).

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.