Shares in Gamestop surged by over 90 per cent in premarket trading on Monday, after a weekend Reddit post from stocks influencer Keith Gill, known as “Roaring Kitty,” 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 Gill’s Reddit account, which was central in fuelling a meme stock trading frenzy about three years ago by sharing screenshots of his bullish GameStop trades.
The screenshot posted on Sunday also showed $20 call options for GameStop expiring on June 21. The stock closed at $23 on Friday, up about 33 per cent since Gill began sharing cryptic posts and memes on X.com in May, sparking speculation over whether he would resume sharing his trades online after a three-year hiatus.
Gill did not respond to a request for comment on Reddit or email.
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, U.S.-listed shares of BlackBerry rose 7.8 per cent.