GameStop stock and AMC shares surged on Monday after Keith Gill, known as Roaring Kitty, reappeared on social media after three years. The New York Stock Exchange temporarily halted trading on GME stock multiple times due to the rapid rise.
Gill, famous for his role in the meme stock rally during the pandemic, posted an image implying seriousness on social media platform X, marking his return.
His previous involvement in the GameStop short squeeze made him a figure of interest, eventually leading to a testimony before the House Financial Services Committee.
Retail investors welcomed his return with excitement, anticipating further market moves, including in smaller cryptocurrencies.
GME stock jumped approximately 74.5% following his post, prompting trading halts due to volatility.
Meanwhile, AMC Entertainment saw a 78.4% rally, although its stock had been declining for most of 2024.
The surge in GME stock in 2021, driven by retail investors, caught short sellers off guard and led to significant gains in the stock price.
Overall, Gill's return reignited enthusiasm among retail investors and revived interest in meme stocks like GameStop and AMC.
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