Gamestop shares climbed more than 90 per cent in premarket trading on Monday, after a Reddit post from stocks influencer Keith Gill showed a $116 million bet on the gaming retailer.
GameStop was the second-most actively traded stock, with 4.4 million shares changing hands by 4:30 a.m. ET.
It was the first post from Keith Gill, known as “Roaring Kitty”, on his Reddit account.
About three years ago also, Reddit posts by Gill had fuelled a rally in the meme stock.
A screenshot posted on Sunday showed $20 call options for GameStop expiring on June 21.
On Friday, the GameStop stock had closed at $23, up about 33 per cent since Gill began sharing cryptic posts and memes on X.com in May.
Reddit shares jumped 7.5 per cent, while retail trader-focused brokerage Robinhood gained 3.5 per cent.
Among other meme stocks, AMC added 30 per cent, Tupperware gained 12 per cent, US-listed shares of BlackBerry rose 7.8 per cent.
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Published: 03 Jun 2024, 04:13 PM IST
