GameStop (GME.N) shares surged 21% on Monday after the stock influencer known as “Roaring Kitty” returned to Reddit, revealing a $116 million investment in the struggling video game retailer.
GameStop shares closed at $28, having soared as much as 75% during the session. Approximately $4.7 billion worth of GameStop shares were traded by the market’s close, making it the most active stock on the NYSE, according to LSEG data.
This post marked Keith Gill’s first activity on Reddit in three years. Known as Roaring Kitty, Gill was a key figure behind the 2021 retail trading frenzy. His previous posts on Reddit, showcasing his optimistic GameStop trades, ignited a wave of demand for “meme stocks”—companies with weak fundamentals that gained popularity through social media among retail traders.
The screenshot, posted on Sunday, displayed a GameStop holding of 5 million shares, representing 1.8% of the company’s publicly available stock. Gill’s last update in April 2021 showed a holding of 200,000 shares valued at $30.9 million.
Reuters could not verify the authenticity of the Reddit screenshot, and Gill did not respond to requests for comment via Reddit or email.
In a post after the close of regular trading on Monday, Roaring Kitty disclosed that he still holds his 5 million shares and 120,000 call options. The value of his position increased to $260 million, a gain of $78.6 million from the previous session. Sunday’s post also revealed $65.7 million worth of call options expiring on June 21 at a strike price of $20.
