Made a killing in GameStop? Now comes the tax bomb – CNBC
Investors gawking at hefty returns from GameStop stock may be in for a surprise: a big tax bill.
GameStop’s stock price has swelled more than 1,700% since the start of the year through Wednesday’s close. It rallied 130% on Wednesday to almost $348 a share. The video game retailer’s stock cost $39 a share just a week earlier.
AMC and Bed Bath & Beyond stock also surged this week, fueled by extreme speculation among retail traders.
But Uncle Sam will also be profiting from investors’ fortunes.