Key Investor Roaring Kitty Reveals Major Position in GameStop, Meme Stocks Rally

Key investor Keith Gill, also known as Roaring Kitty, has disclosed a significant position in GameStop, leading to a surge in meme stocks. Gill, a prominent figure from the 2021 meme stock phenomenon, shared details of his holdings on social media platform Reddit.

On Sunday, Gill posted a screenshot indicating a substantial stake in GameStop, with 5 million shares valued at $115.7 million. The disclosure, marking his return to the spotlight, included call options worth $65.7 million on GME stock.

GameStop stock experienced a rapid 50% increase at the market open on Monday, following Gill’s revelation. Pre-market trading saw GME surge over 74% to surpass $40 per share, driving excitement in the meme stock space.

Amid the resurgence of meme stocks, AMC Entertainment also saw a boost with a 14% rise in stock price on Monday. BlackBerry and Robinhood, two other key players in the meme stock arena, showed mixed reactions to the news, with varying degrees of stock movement.

The latest developments have reignited interest in the meme stock trend, with investors closely tracking the movements of GameStop, AMC, and other favored stocks. Gill’s updated position and the subsequent market response highlight the ongoing influence of social media and individual investors in shaping stock market dynamics.

For real-time stock news and updates, investors are keeping a close eye on Gill’s Twitter account, where he shares insights and commentary on market trends.