Friday’s session saw stock of GameStop (GME) hit its highest price, Palantir soared more than 25%, Jumia Technologies AG jumped increased 24.99% among market movers. We have highlighted below some of the reasons for the price movements.
GameStop stock surged to its highest price hitting $76.76 per share on Friday, up nearly 80% in a single day. GME continued to go higher after Citron Research abandoned its short position in the company. It had previously close Thursday’s trading around $43 to record a 51% increase closing Friday at $65.01 per share
Churchill Capital Corp. IV (CCIV)
Shares of CCIV traded higher amid speculation and a new article from the Los Angeles Times has CCIV stock on the move once again. The price per share jumped 25% on the day from its previous day’s closing $17.81 to close Friday’s session at $22.35.
PLTR shares soared on Friday as high as 26%, the most since early November. The price movement was not as a result of any company-specific news or update on the day but for Thursday’s announcement where the company said it would provide an update on its Demo Day scheduled for January 26. The price per share moved 25.40% from around $25 to close at $32.58.
Jumia Technologies AG (JMIA)
The stock price of the Africa online marketplace increased by 24.99% as it went from a previous close of $45.57 to a closing price of $56.96 on Friday. Investors appear to be reacting to Citron Research assigning Jumia a price target of $100 recently.
AMC Entertainment Holdings (AMC)
The stock traded 18% higher in Friday’s session, despite announcements that movies such as the premiere of the latest James Bond film No Time to Die have been delayed yet again, this time until October. Another major driver could be the news about the company looking to open up some of its cinemas that had been closed due to coronavirus. Its previous day closing was $2.98 to close Friday at $3.51