North Texas-based GameStop is back in the spotlight after a Reddit post, believed to be linked to the infamous “Roaring Kitty” Keith Gill, ignited a surge in the company’s stock price. The screenshot, showcasing a massive $116 million stake, sent a wave of excitement through retail investors, reminiscent of the 2021 meme stock frenzy.
Gill, whose online presence significantly influenced the market during the meme stock craze, has recently returned to social media. His activity coincides with a renewed rally in GameStop’s stock, which soared to nearly $50 last month. This online buzz also fueled a successful stock sale for GameStop, raising over $900 million to bolster their coffers.
The ripple effects extend beyond GameStop. Other meme stocks like AMC and Koss are experiencing similar boosts, with AMC jumping 13% and Koss advancing over 6%. This resurgence raises questions about the staying power of the meme stock trend and the potential impact of online communities on the broader market.
