GameStop Shares Surge One Again as Rainmaker ‘Roaring Kitty’ Returns

GameStop’s shares climbed by a whopping 74 percent percent Monday morning after Keith Gill, the man known as ‘Roaring Kitty’ on Reddit who was the driver of the 2021 meme stock frenzy, made his first post in three years, which revealed a purported $116 million position in the struggling video game retailer.

The frenzy was short-lived, cooling off around mid-morning. By 11am EDT, GameStop stock had settled around $29 a share, a 30 percent increase on closing price the previous day.

Gill had gone dark for three years on Reddit before roaring back onto the scene Monday morning. Three years ago, his posts triggered the meme stock craze that boosted market stragglers like GameStop through mob-like trading by dedicated followers. Other meme stocks like AMC, which was also boosted by the 2021 trading frenzy, rallied on Monday morning, with the theater chain up a magical 13 percent.

Read more at The Daily Beast.