GameStop climbs as 'Roaring Kitty' reveals $116 million bet in Reddit post
NEW YORK -GameStop shares jumped around 30% on Monday after the stocks influencer known as"Roaring Kitty" returned to Reddit with a post showing a $116 million bet on the embattled videogame retailer.) had surged as much as 75% earlier on Monday, and some $3.8 billion worth of GameStop shares had changed hands as of 2:15 p.m. ET , making it the most heavily traded stock on the NYSE, according to LSEG data.
Reuters could not verify the screenshot on Reddit, and Gill did not respond to a request for comment on Reddit or email. "This is having a disproportionate share price impact given the short position in the stock combined with its relatively small market capitalization." But while GameStop’s 2021 surge saw retail traders banding together against Wall Street institutions that were short the stock, the apparent lack of a common enemy could give some investors less reason to stay with their bullish bets this time around, DeSimone said.
"Even as it faded from public consciousness and the headlines since mid-May, it remained a very active stock on our platform, consistently among the top 10 names," said Steve Sosnick, chief strategist at Interactive Brokers (NASDAQ:
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