Shares of GameStop and AMC surge after Roaring Kitty makes first post in 3 years

Roaring Kitty, a key player in the GameStop stock frenzy, made a surprising return to social media, causing GameStop shares to skyrocket. The surge was not based on the company’s fundamentals but on a cartoon shared by the trader, Keith Gill. Short sellers betting against GameStop suffered significant losses as the stock price surged. Other meme stocks like AMC Entertainment and Reddit also saw an increase. Gill, known as “Deepf—ingvalue” on Reddit, played a major role in driving up GameStop’s stock prices. He described himself as a casual trader during a Congressional hearing and denied intentionally fueling the GameStop frenzy. The events surrounding GameStop have been depicted in a movie called “Dumb Money.” As the stock market settles, prices may fluctuate slightly.