Shares of GameStop Corp. (GME) surged over 8% on Wednesday, amid a broader market rally fueled by the victory of Donald Trump in the 2024 U.S. presidential election. The stock's surge coincided with GameStop CEO Ryan Cohen expressing his support for Trump's win on social media.
In a tweet early Wednesday morning, Cohen wrote "God bless America!" shortly after Trump secured the electoral votes needed to clinch the presidency. Cohen has been a vocal supporter of Trump, endorsing him in July after the former president survived an assassination attempt in Pennsylvania.
While no specific news or events were cited as the direct cause of GameStop's rally, Cohen's public celebration of Trump's win appears to have boosted investor sentiment towards the video game retailer. The stock's surge extended its winning streak to four days, the longest such streak since mid-July.
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