GameStop Corp. (NYSE: GME) today announced it has appointed Nir Patel to the role of Chief Operating Officer, effective May 31, 2022. Most recently, he was Chief Executive Officer at Belk, a privately-owned national retailer with more than 300 stores across 16 states. He previously held senior roles at Kohl’s and Lands’ End after beginning his career at Target and Gap. He has approximately two decades of experience in operations, merchandising, supply chain, and retail and store operations.
Recent stock gain
On May 12, 2022, the popular meme stock, saw a great rebound after dipping with the bleeding stock market. It gained over 10% in the trading session and is reversing its long term losses. Moreover, other meme stocks like AMC and BBIG also gained that day, bringing a breather to stock market enthusiasts.
Such a gain was a sign of contentment for investors since many other major stocks had been losing value. Moreover, the entire crypto market had been crashing, therefore, this ‘green’ movement of such meme stocks was surely noteworthy. In addition, the GME stock gains extended into Monday’s pre-market trading session.
Recent Trade halts
The GME stock had been skyrocketing recently, and this had caused several trading halts for the GameStop stock. The GME stock trading had been halted for over four times on the day these gains started. However, none of the halts were too long and the trading resumed in approximately 5 minutes.
The GME stock was up by 1.08% and traded at $99.45 (gaining 1.06 points) at 8:47 a.m. EDT in the pre-market trading session today. The market capitalization of the stock stood at $7.5 billion. Last week, the GME stock rose by 9.85% closed at $98.39 (up by 8.82 points). The recent consistent ‘green’ sessions have been making up for the long bearish sessions.