GameStop shares soar after 'Roaring Kitty' posts on X
Key figure in meme stock craze reemerges, sending GameStop stock soaring
GameStop shares soared more than 70% on Monday after "Roaring Kitty," a key figure behind the stock's so-called Reddit rally in 2021, reemerged on X and posted a drawing after a three-year break from social media.
The stock surged after Keith Gill, known as "Roaring Kitty" posted a picture of a man leaning forward in a chair, appearing to be holding a gaming controller.
GameStop shares were repeatedly halted for volatility during the morning amid a rise in the stock's share price, which at one point was up more than 77% to $30.97.
KENNY POLCARI: STOCKS APPEAR READY TO KISS ALL-TIME HIGH
The surge puts the stock on pace for its largest percent increase since Feb. 24, 2021, when it rose 103.94%.
A GameStop store in New York, on March 4, 2024. (Shelby Knowles/Bloomberg via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 27.27 | -1.78 | -6.13% |
GameStop Corp.
The sketch Gill posted Sunday is a popular meme among gamers that indicates things are getting serious. It is his first post on X, previously Twitter, after being notably absent on social media platforms since mid-2021.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The so-called Reddit rally saw shares of GameStop surge as much as 21-fold over two weeks in January 2021 before crashing to pre-surge levels in the subsequent days.
Reuters contributed to this report.