Mystery GameStop surge reaches Europe

The new surge in GameStop stock has reached Europe.

And it's even exceeding the gains seen on Wall Street.

Frankfurt-traded shares in the gaming retailer rose around 180% in morning trade.

That beats the 100% gain seen in the U.S. earlier.

Though premarket trades Thursday (February 25) showed it up another 50% there.

With other so-called 'meme stocks' also headed sharply higher.

But no one seems totally sure what's driving the gains.

Analysts couldn't pinpoint one reason.

Earlier in the year GameStop saw huge gains as a result of the so-called 'Reddit rally'.

Amateur traders on one of the website's forums banded together to drive up the stock.

The shares later fell back, and had been trading in a less volatile way in recent weeks.

This time around, at least one analyst said there was no clear evidence of a new Reddit rally.

Video Transcript

- The new surge in GameStop stock has reached Europe, and it's even exceeding the gains seen on Wall Street. Frankfurt traded shares in the gaming retailer rose around 180% in morning trade. That beats the 100% gains seen in the US earlier.

Though premarket trades Thursday showed it up another 50% there, with other so-called [? meme ?] stocks also headed sharply higher. But no one seems totally sure what is driving the gains. Analysts couldn't pinpoint one reason.

Earlier in the year, GameStop saw huge gains as a result of the so-called Reddit Rally. Amateur traders on one of the website's forums banded together to drive up the stock. The shares later fell back, and had been trading in a less volatile way in recent weeks. This time around, at least one analyst said there was no clear evidence of a new Reddit Rally.