GRAPEVINE, Texas — North Texas-based GameStop shares surged Monday after a Reddit account believed to be linked to meme stock trader Keith Gill, also known by his "Roaring Kitty" social media handle, posted a screenshot of what appeared to be a $116 million stake.
GameStop shares surged more than 50% early Monday and was at more than 30% as of mid-morning Monday.
Gill, who sparked the 2021 meme stock momentum using his ‘Roaring Kitty” handle, posted the screenshot Sunday on Reddit using his “DeepF------Value” account that appeared to show a $115.7 million position, as well as an options bet.
Around that same time, his Roaring Kitty account on X, which has 1.4 million followers, posted a photo of an Uno game card that reverses the order of the game.
The posts haven’t been independently verified.
As the Washington Post reported, GameStop rallied to nearly $50 per share last month as mentions of the stock rose online before falling to $23.14 as of Friday’s close.
That rally is also at least partially attributed to an account linked to Gill after “Roaring Kitty” posted a series of memes starting May 12 with a photo of a man leaning forward in a chair to post on a cellphone.
The posts were lauded in the Reddit “Superstonk” channel, a popular meme stock forum.
After the May rally, GameStop reportedly raised more than $900 million in a stock sale.
As the Wall Street Journal reported, other meme stocks also rallied Monday, with AMC shares jumping 13% early Monday, and Koss advancing more than 6%.
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