Shares of original meme stocks GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC) are surging again and Jim Cramer believes he knows what’s coming next.
What To Know: Keith Gill, also known as “Roaring Kitty” on YouTube and X or “DeepF***ingValue” on Reddit, posted a screenshot on Reddit over the weekend suggesting he currently has a $116 million position on GameStop.
The image showed a pair of unconfirmed bullish positions, including 5 million shares of the video game retailer and 120,000 call options expiring later this month. GameStop shares spiked in early trading Monday, sparking a rally in several meme stocks and high short-interest names such as AMC.
Monday on CNBC’s “Squawk On The Street,” Cramer suggested piling into the meme names to try to catch a piece of the rally are likely going to get burned.
GameStop is well capitalized, but video games can easily be bought and downloaded without ...