Roughly $390m worth of GameStop shares had changed hands before 6am ET, following Keith Gill’s first Reddit post in three years
Photograph: Andrew Kelly/ReutersPhotograph: Andrew Kelly/ReutersGameStop shares surged more than 70% premarket on Monday after “Roaring Kitty” Keith Gill, the stocks influencer behind the 2021 retail trading frenzy, returned to Reddit with a post showing a $116m bet on the embattled videogame retailer.
It was the first post in three years from Gill’s Reddit account, where screenshots of his bullish GameStop trades had in 2021 triggered a rush of demand for “meme stocks” – often companies with weak fundamentals that gained a cult-like following through social media hype. The stock closed at $23 on Friday, up about 33% since Gill began sharing cryptic posts and memes from his “Roaring Kitty” account on X.com in May, sparking speculation over whether he would resume sharing his trades online after the hiatus.
GameStop was trending no 1 on investor-focused social media platform stockstwits.com, indicating increased chatter among individual traders, while fellow meme stock AMC added 26%. Tupperware, SunPower Corp and US-listed shares of BlackBerry rose between 6% and 13%.
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