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GameStop shares spike premarket amid strong volumes

Investing.com -- GameStop (NYSE:GME) shares surged in heavy premarket volumes on Wednesday, putting it on course for its best performance since March as a rally in a stock favored by many retail traders gathers pace.

By 08:31 ET (13:31 GMT), the videogame seller's shares were trading over 17% higher at $15.93.

GameStop shares have slid sharply so far this year, but closed up by 13.4% in the prior session on no particular news catalyst. The company is scheduled to deliver its latest quarter results on Dec. 6.

Analysts quoted by Reuters suggested that a spike in investor optimism this month has helped infuse more confidence into retail traders, although they told the news service that this could be a sign that the market is "overstretched."

Shares in AMC Entertainment (NYSE:AMC), another darling of retail investors, have also climbed ahead of the start of trading on Wall Street. The stock has declined by more than 78% this year.

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