GameStop stock surges on Q4 earnings beat, meme stocks follow suit

Yahoo Finance Live’s Julie Hyman breaks down the rise in stock for GameStop.

Video Transcript

JULIE HYMAN: Well, GameStop shares are on the rise in premarket trading after yesterday's surprisingly positive earnings. They're not just on the rise. They're exploding higher. They're up 51%. The company reported its first quarterly profit in two years, beating analysts' estimates for revenue.

The upward momentum also boosted AMC and Bed Bath & Beyond. There's a lot of meme action happening this morning. We'll have more details on that and the opening bell.