A little-known Australian mining company saw its share price soar as much as 50 (ps5 gamestop) percent on Thursday, after investors appeared to mistake it for the similarly named cult US stock GameStop.


GME Resources Limited -- listed as "GME" on the Australian Securities Exchange -- surged in early trading, with the market taking an unexpected interest in the tiny(ps5 gamestop)  Western Australia-based nickel miner.

Trading volume in the company was at more than 20 times the normal average,(ps5 gamestop)  leading some to believe that GME had been mistaken for GameStop, which has the ticker "GME" on the New York Stock Exchange.

GameStop, a struggling US video game retailer, has seen its stock surge about (ps5 gamestop)  1,000 per cent in two weeks after a group of amateur investors active on the online forum Reddit banded together to fight the Wall Street funds that had pushed its price lower.

"When I opened my share tracking app and saw it was at 9.4 cents, I was stunned,(ps5 gamestop) " GME's managing director Peter Sullivan told the Sydney Morning Herald.