Retail-investor favorite Keith Gill is back, and so is the meme frenzy. But Wall Street pros caution investors to think twice before buying.
And that was enough to ignite the retail trading army. Share price more than doubled in pre-market action before giving back some of those early gains. The stock added about $6 billion in market cap shortly after Monday’s opening bell, before trading was briefly halted due to volatility.
“The options position … is a relatively short term contract, so it needs to have momentum in order to be in the money, which is undoubtedly a reason why someone would want to inject more momentum,” Gellert added. Monday’s gains followed a short-lived 179% two-day run-up in the stock last month, sparked by Gill’s return to social media for the first time since 2021.Despite the renewed hype and excitement surrounding the video-game maker in recent weeks, analysts are quick to reiterate GameStop's massive moves remain disconnected from fundamentals.
Cathie Wood's ARK Invest missed out on more than $1 billion in returns by selling Nvidia stock too early
Keith Gill Gamestop Stock Retail Trading
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GameStop Set to Jump as Keith Gill Post Shows $116 Million Bet(Bloomberg) -- GameStop Corp.’s shares are set for a wild ride at Monday’s opening after the Reddit account that drove the meme-stock mania of 2021 posted...
Read more »
GameStop soars 90% after super bull Keith Gill's Reddit post shows $116 million betExplore stories from Atlantic Canada.
Read more »
RFK Jr. invests in GameStop, aims to back 'ape retail rebellion'Third-party presidential candidate Robert F. Kennedy Jr. announced that he invested $24,000 in GameStop (GME) and said his administration would support the '...
Read more »
GameStop shares soar as 'Roaring Kitty' revtalizes retail frenzyGameStop Corp. shares surged as speculation swirled around a return to social media by Keith Gill, who drove the meme-stock mania of 2021 under the moniker “Roaring Kitty.”
Read more »
GameStop shares extend meme rally as retail traders pile inMeme-stock traders again piled into GameStop Corp. and AMC Entertainment Holdings Inc., a day after shares of both firms soared in a revival of the retail frenzy.
Read more »
GameStop meme trade's origins: Who is Roaring Kitty?GameStop (GME) is back in the spotlight after trader Keith Gill, known as 'Roaring Kitty' online, resurfaced with a post on X. Gill led the GameStop short...
Read more »