GameStop Stock Soars Another 60% as Meme Stocks Reignite
Shares of GameStop skyrocketed 74% yesterday in reaction to Roaring Kitty's return to social media.
For the second day in a row, GameStop (NYSE: GME) shares skyrocketed, extending Monday’s gains, which investors attributed to Roaring Kitty, the investor most linked to the GME’s 2021 explosion, posting on social media for the first time in three years.
GameStop stock surged 83% to $55.83 in early premarket trading today after rising 74% on Monday, following Roaring Kitty’s return to the social media service X for the first time since 2021.
The premarket strength helped carry GameStop shares to another big day, with GME stock rising another 60% today.
GameStop’s 74% advance yesterday was only the original meme stock’s fourth-best single-day advance since 2021, according to FactSet data. On Jan. 27, 2021, GameStop shares jumped 135%.
Granted, GameStop has also had some bad days as well, including a 60% plunge on Feb. 2, 2021.
GameStop’s fellow meme stock, AMC Entertainment (NYSE: AMC), actually had a better gain on Monday, surging 78%.
Shares of AMC Entertainment closed Tuesday’s trading session at $6.85, up 31.98%. In after-hours trading, AMC stock is currently up another 20.29%. YTD, AMC stock is up 12.11%.
Shares of GameStop closed today at $48.75, up 60.1%. In after-hours trading, GME stock is currently up another 12.18%. YTD, GME stock is up 192.44%.
This article was originally published on MarketWatch.com.
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