GameStop (GME) stock soared as much as 110% on Monday, but was briefly suspended due to volatility following comments from “Roaring Kitty,” the person considered to be the catalyst for the meme stock craze during the pandemic. Ta. Posted Held online for the first time since 2021.
That year, “Roaring Kitty,” identified as Keith Gill, became a prominent figure on Wall Street Bets and YouTube for his bullish stance on GameStop (GME).
A post on Sunday's X included a meme of a video gamer leaning forward, seemingly intent on gaming. Roaring Kitty last posted on X in June 2021.
Gill is known for posting commentary on why GameStop is rising, and ultimately testified before Congress about January 2021's massive short squeeze caused by an army of retail traders.
Short interest in GameStop remains at about 24% of its float, according to data from S3 Partners.
“Including today's loss, GME short losses were -$1.34 billion month-to-date in May, and -9.9 billion for the year,” S3 Partners managing director Ihor Dusaniowski told Yahoo Finance on Monday. 52 million dollars,” he said.
Monday's rally follows recent gains in meme-related stocks. Theater chain operator AMC (AMC) rose 19% during the session, while Trump Media & Technology (DJT) rose 8%.
“Short sellers could have some ups and downs with these stocks,” Dusaniwski said.
As Yahoo Finance's Jared Blikre recently pointed out, the recent surge in meme stocks appears to be less of an ominous sign than in the past, and more of a healthy risk appetite for investing.
Ines Ferre is a senior business reporter at Yahoo Finance. Follow her on Twitter @ines_ferre.
