Why GameStop's Stock Is Trading Higher Today

GameStop Corp. GME shares are trading higher on continued strength after the company on Monday announced a committee led by Ryan Cohen will to aid business transformation to become a leader in e-commerce.

Tuesday marks the sixth consecutive trading day GameStop shares have gained after the company said its board has constituted a strategic planning and capital allocation committee to zero in on initiatives to aid its business transformation.

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GameStop is a video game, consumer electronics and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories.

GameStop shares closed Tuesday higher by 27% at $246.90. The stock has a 52-week high of $483 and a 52-week low of $2.57.