Off-Hours Trading Surged at Peak of GameStop Frenzy
February 03 2021 - 12:58PM
Dow Jones News
By Alexander Osipovich
Data on the Reddit-fueled frenzy over GameStop Corp. stock shows
that an unusually large share of trading in the company's shares
took place outside of regular trading hours.
On two days--Jan. 27 and 28--more than 20% of daily trading
volume in GameStop took place in the pre-market or post-market
trading sessions, according to Dow Jones Market Data. That was up
from between 2% and 3% a week earlier, before frenetic trading in
GameStop by individual investors sent shares of the videogame
retailer skyrocketing. In December, off-hours trading accounted for
about 6% of daily volume on average.
Pre-market trading runs from 4 a.m. to 9:30 a.m. ET, while
post-market trading runs from 4 p.m. to 8 p.m. ET. The two
off-hours sessions are often marked by less liquidity than regular
trading hours, which can set the stage for sharp swings in stock
prices.
During the premarket session on Jan. 28, GameStop shares surged
as high as $504.99, after having closed at $347.51 the previous
day.
This item is part of a Wall Street Journal live coverage event.
The full stream can be found by searching P/WSJL (WSJ Live
Coverage).
(END) Dow Jones Newswires
February 03, 2021 13:43 ET (18:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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