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GameStop stock rises toward a 4th-straight gain, has surpassed where it was before CEO was fired

Shares of GameStop Corp. (GME) rose 0.6% toward a 6-month high in premarket trading Wednesday, putting them on track for a fourth-straight gain. After tumbling 17.9% on June 8, after the consumer electronics retailer and original "meme" stock surprisingly fired its chief executive officer, the stock has bounced back 25.7% to close Tuesday at the highest price since Dec. 2, 2022. The rally was supported by the company's disclosure Tuesday that Executive Chairman Ryan Cohen bought about $10 million worth of GameStop shares. The stock has run up 59.4% over the past three months through Tuesday, while the S&P 500 has gained 11.5%.

-Tomi Kilgore

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06-14-23 0907ET

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