Why GameStop Shares Are Popping Off Today

GameStop Corp. GME shares are trading higher by 9.72% to $28.34 going into the close of Friday's trading session as the stock trends on social media. The company also recently reported quarterly earnings and announced a partnership with FTX.

What Happened?

GameStop Wednesday afternoon reported second-quarter net sales of $1.136 billion, down from last year’s $1.183 billion. Revenue came in shy of a Street estimate of $1.27 billion.

The company reported a loss of 35 cents per share in the second quarter, beating estimates of a loss of 38 cents per share from analysts...Read More

See Also: Why NIO Shares Are Rising

According to data from Benzinga Pro, GameStop has a 52-week high of $63.92 and a 52-week low of $19.40.