GameStop Stock Soars as Roaring Kitty Reveals $116M Investment

GameStop shares experienced a surge on Monday, led by the trader Keith Gill, known as Roaring Kitty, who seemingly disclosed a $116 million position in the stock. This increase came after a period of social media silence from Gill, suggesting his renewed interest in the struggling retailer. The stock was up 40% shortly before 10 a.m. ET after a screenshot of five million GameStop shares from Gill’s account was posted on Reddit’s r/SuperStonk forum.

Late on Sunday, Gill posted a picture of an Uno reverse card on X which received significant attention, further fueling interest in GameStop. This surge is reminiscent of last month’s spike when Gill resurfaced on social media after three years with a series of cryptic posts, though the stock ultimately gave up most of those gains.

Gill initially made headlines in January 2021 when his optimistic analysis of GameStop led to a short squeeze, attracting widespread attention. He later clarified in a testimony to the House Financial Services Committee that he was “not a cat.” Gill’s role in the 2023 film “Dumb Money,” portrayed by Paul Dano, further solidified his influence in the investing world.