A man passes by a GameStop location on 6th Avenue in New York, March 23, 2021.
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GameStop shares rallied more than 21% in the premarket Monday after “Roaring Kitty” posted for the first time in roughly three years.
The post, a picture on X of a video gamer leaning forward on their chair as to indicate he’s taking the game seriously, marked Roaring Kitty’s first post on the platform â or on Redditâ since 2021.
Kitty, whose legal name is Keith Gill, is one of the Reddit traders who drove the meme stock craze of 2021. Gill goes by DeepF——Value on Reddit. The trader helped attract retail interest in driving a massive short squeeze in the stock between 2020 and 2021. The mania once forced brokerages including Robinhood to limit trading in heavily shorted stocks.
The volatility has spawned a series of Congressional hearings involving the leaders of Robinhood, Melvin Capital, Reddit, Citadel as well as Gill.
In January 2021, shares hit an all-time intraday high of $120.75 per share. As retail interest faded the stock collapsed, along with other meme stocks like AMC. The shares last month hit a three-year low of $9.95.
GME 5-year chart
Recently, the stock has started to move higher again, which may have rekindled the trader’s interest. The stock is up 57% so far in May and closed Friday at $17.46.
