The meme stock effect resurfaces as a White House message boosts GameStop's stock price
GameStop's stock price rose early Monday after the White House shared the company's statement about the debut of the "Halo" game on the PlayStation platform on its official X platform. The stock surged 7.7% during the meme stock frenzy, before narrowing its gains to 3%. GameStop announced that "Halo: Combat Evolved" will be available on PlayStation in 2026 and will support cross-platform play. Despite the rise in stock price, it has fallen 25.7% year-to-date
According to Zhitong Finance APP, GameStop (GME.US) stock price rose early Monday, as the White House retweeted the video game retailer's statement about the popular Xbox (Microsoft (MSFT.US) subsidiary) game "Halo" making its debut on Sony (SONY.US) PlayStation platform.
The stock initially surged 7.7% in pre-market trading amid the Meme stock frenzy, but the gains narrowed, fluctuating within a 3% increase range at the start of trading.
GameStop announced on Saturday via X platform that "Halo: Combat Evolved" will be available on PlayStation in 2026 and will support cross-platform play. This move signifies a turning point in the long-standing "console war" between Microsoft and Sony, the two major gaming hardware manufacturers. Since the release of the first title in the early 21st century, the "Halo" series has been an exclusive game for the Xbox platform.
On Sunday evening, the White House retweeted GameStop's statement, accompanied by a dynamic image of President Trump in combat gear saluting the flag, with the caption "Power to the Players."
So far this year, GameStop's stock price has fallen by 25.7%, while the S&P 500 index has risen by 15.6%
