Traders coined the term “meme stock” during the pandemic, and shares of video game retailer GameStop are once again increasing in value.
Their ascent coincides with Keith Gill’s (also known as “Roaring Kitty”) reappearance on the internet, who was said to have contributed to the ailing company’s share price explosion in January 2021—against the predictions of numerous seasoned Wall Street corporations.
As investors poured money into GameStop, the company’s shares surged more than 70% in early trading on Monday, reaching over $30.
Even though the price subsequently decreased somewhat, it was still the highest since 2022.
Among the throng of independent traders who exchanged financial advice online and incited a purchasing frenzy for Gamestop and other companies, Mr. Gill was one of the most well-known figures.
