Shares of GameStop (GME) surged over 100% on Wednesday, a day after the company announced its chief financial officer Jim Bell will resign on March 26.
Sources familiar with the inner workings of the company told Business Insider that Bell did not leave willingly and was pushed out by board members.
A month ago, Reddit users caused a massive spike, and then later a drop, in the stock price.
On January 27, the stock closed at $347.51. At the close of trading on Wednesday the stock was valued at $91.71 a share. It continued to rise Wednesday afternoon during after-hours trading.