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The Securities and Exchange Commission have spent months investigating the GameStop phenomena, that saw shares in the gaming stores rocket from less than $20 on January 12 to $483 on January 28, and released its 45-page report on the incident on Monday.Дriving each other on on a chatroom forum called WallStreetBets, the so-called ' Reddit rally' saw shares of GameStop surge 400 per cent in a week, before crashing back to pre-surge levels. The Motley Fool recommends BlackBerry and BlackBerry.GameStop's wild ride on the markets earlier this year was the result of an internet-fueled frenzy of investors, rather than nefarious activity, financial regulators ruled on Monday. Got $1,000? 3 Top TSX Stocks to Buy Right NowД¤ Canadian Dividend Stocks to Buy and Hold ForeverДЇool contributor Andrew Button has no position in any of the stocks mentioned.

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Passive Income: How to Easily Make $20 Per DayДЇorget Air Canada (TSX:AC): This Airline Stock Could Double in 2021

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Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune.Дon't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now. Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 'dirt cheap' stocks that you can buy today for under $49 a share. Just Released! 5 Stocks Under $49 (FREE REPORT) If you like GameStop, you might like these stocks as well: The post GameStop (NYSE:GME): Getting Rich in Meme Stocks 2.0 appeared first on The Motley Fool Canada. For now, though, it has to be said: this is a social media-driven rally, not organic gains based on strong fundamentals. With GameStopвЂ™s e-commerce sales rising, and BlackBerry locking down new contracts with Chinese automakers, the future may be bright. Who knows where theyвЂ™ll go from here? But there are some causes for optimism. After soaring to new heights in January, they came crashing down in March, only to rise again right before summer. Likewise with GameStop, it could start posting positive revenue growth again once its e-commerce revenue becomes its predominant source of income. Its most recent quarter saw a setback to that general trend, but it could resume, as BlackBerry picks up more enterprise clients with long-term contracts.

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Later, though, it transitioned to software and saw its software and service revenue steadily climb.

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BlackBerry ended up being a big loser in the smartphone wars, after the iPhone and Android took all its market share. In GameStopвЂ™s case, itвЂ™s e-commerce in BlackBerryвЂ™s case, itвЂ™s enterprise software. In many ways, GameStop is in much the same position as the Canadian meme stock, BlackBerry.Д«lackBerry, like GameStop, is in the midst of a long-term sales decline but is also transitioning to a new business model. However, the company did post $80 million in net income in the most recent quarter and achieved 175% growth in e-commerce sales. These are all serious challenges GameStop will have to deal with. GameStop is up against some serious challenges:ДЄ long-term decline in sales at physical game stores ItвЂ™s one thing to notice that GameStop is rising again in another Reddit-fueled rally but quite another to say that it will rise long term. But it is now on the rise again, thanks to Reddit.

Since then, it has given up much of its gains.

AMC is another вЂњmeme stockвЂќ like GameStop, BlackBerry (TSX:BB)(NYSE:BB), and Nokia, which rose in the January/February meme stock rally. It looks like GameStopвЂ™s second rally was caused by the same factor that caused the first one: Reddit.ДЄccording to, GME is currently the second-most mentioned stock on Reddit after AMC. In this article, IвЂ™ll explore GameStopвЂ™s latest rally and whether investors can rely on it to continue. Backed by an army of Reddit fanboys, this stock has been known to rise by high double digits in single trading days. If that sounds like a lot to you, remember that this IS a meme stock weвЂ™re talking about. It would take a 36% gain for GME to get back to its all-time high. As of this writing, it was at US$255 - less than $100 away from its all-time high of US$347. GameStop (NYSE:GME) stock is rising again.