GameStop rips as much as 130% higher after Elon Musk's 'Gamestonk' tweet extends the day-trading rally

REUTERS/Shannon Stapleton/ Tobias Schwarz/Pool



GameStop surged as much as 130% higher in early pre-market trading after Elon Musk's "Gamestonk!!" tweet.



Chamath Palihapitiya has also tweeted excitedly about subreddit WallStreetBets' favorite stock.



The online stock-investing chat group now has over 2.4 million members.



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Shares in GameStop rose as much as 130% higher early on in Wednesday's pre-market, after billionaire Elon Musk tweeted "Gamestonk!!" in after-hours trading."Stonks" is usually used in investing banter on social media for widely-held stocks.The Tesla founder posted a link to the popular subreddit WallStreetBets, members of which have piled into GameStop's soaring stock.


@elonmusk/Twitter