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Roaring Kitty Sparks GameStop Surge with Meme Post, NYSE Halts Trading Multiple Times

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GameStop stock and AMC shares surged early Monday after Keith Gill, also known as Roaring Kitty, made his return to social media for the first time in three years.

Gill, the key figure behind the GameStop short squeeze, posted an image hinting at his comeback, causing GameStop shares to soar around 78%. The New York Stock Exchange had to temporarily pause trading on GME stock multiple times due to the sudden surge.

Keith Gill was summoned to testify before the House Financial Services Committee in February 2021 regarding potential market manipulation as a result of the GameStop saga.

Meanwhile, theater chain AMC Entertainment also saw a 19% rally early Monday, despite a nearly 53% dive in 2024. AMC shares are hovering slightly above their record low of 2.38 from April.

The GameStop short squeeze in 2020 and 2021 witnessed retail investors coordinating a buying spree using online message boards, catching short sellers off guard and pushing the stock price higher.

GameStop shares, which had been relatively flat on the year through Friday, surged due to the unique market dynamics created by the short squeeze strategy.

This resurgence in GameStop stock comes after a period of stagnation, highlighting the ongoing impact of retail traders on market movements.

Rachel Adams

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