GameStop Halted After Dizzying Rise in Volatile Trading By Investing.com

Investing.com — GameStop Corp (NYSE:GME) soared 65% on Monday, and the shares were intermittently halted in volatile Monday morning trading, marking a dizzying and perplexing ride higher.

Shares of the video game retailer have doubled in a week. It is the most heavily shorted stock in the U.S, with more than 138% of its shares sold short, according to CNBC.

Earlier this month, GameStop said Chewy Inc (NYSE:CHWY) co-founder and former CEO Ryan Cohen would join its board. That news forced fierce buying in the stock as hedge funds and other traders tried to cover their short bets. The shares are up 2,962% over one year.