GameStop Soars as 'Roaring Kitty' Returns with X Post from gel stock news Watch Video
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⏲ Duration: 0:40 👁 View: 200K times ✓ Published: 14-May-2024
Description: GameStop (GME) shares surged on Monday after Keith Gill, known as 'Roaring Kitty' on social media, posted on X for the first time since 2021. Gill helped spark a short squeeze in GME in 2021 through posts on Reddit encouraging retail investors to purchase and hold shares, inflicting major losses on hedge funds like Melvin Capital. Gill's resurfaced signaled renewed interest among individual traders who had previously followed his commentary, driving up the stock. GameStop's most recent quarterly results in March 2023 showed ongoing challenges from industry-wide headwinds like competition from e-commerce players.