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Roaring Kitty’s GameStop Revelation Sparks Meme Stock Rally

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GameStop stock price experienced a significant surge today following the revelation made by key investor Roaring Kitty, triggering a fresh rally in meme stocks.

Roaring Kitty, known for his influential role during the 2021 meme stock frenzy, resurfaced on social media platforms including Reddit.

In a Reddit post on r/Superstonk, Roaring Kitty disclosed a substantial position in GameStop, holding 5 million shares valued at $115.7 million and 120,000 call options, fueling excitement among investors.

AMC Entertainment and other meme stocks, including BlackBerry and Robinhood, also saw notable increases in their stock prices, following the surge in GameStop shares.

The sudden jump in GameStop stock, which rose nearly 50% post the revelation, highlights the impact of Roaring Kitty’s return to the trading scene.

AMC stock, despite a recent surge, has faced a downward trend in 2024, while BlackBerry and Robinhood experienced mixed results amidst the overall meme stock resurgence.

Rachel Adams

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