GameStop Corp (NYSE:GME) shares are up more than 35% Monday morning. The reason for the move has people asking: Are meme stocks back?
What To Know: GameStop shares climbed nearly 40% in early trading Monday after social media sensation Keith Gill, best known as “Roaring Kitty” on YouTube or “DeepF***ingValue” on Reddit, made his return to social media after a three-year hiatus.
Gill helped spark the meme stock movement in early 2021 that saw traders across Reddit’s r/WallStreetBets band together and relentlessly buy shares of GameStop, which ultimately led to a short squeeze in the stock. The same playbook was applied to several different so-called meme stocks in the wake of the GameStop frenzy, most notably to AMC Entertainment Holdings, Inc (NYSE:AMC).
Over the weekend, Gill ...