Shares in GameStop shot up almost 73% in pre-market trade Monday as the renewed frenzy around meme stocks shows little sign of abating.
The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill — also known as “Roaring Kitty” — revealed that he had bought nearly $116 million worth of the stock. The post was the first on Gill’s Reddit account in more than three years, when social media-fueled hype around GameStop shares was in full swing.
Gill also sent GameStop shares soaring last month after posting a meme on X of a man leaning forward in a chair holding a video games console — his first post on that platform in three years. GameStop had posted a similar cartoon back in February. The meme is interpreted to mean “when things get serious,” according to website Know Your Meme.
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