The Return of GameStop (meme stock)

The GameStop stock frenzy has made a strong comeback following a post by Keith Gill, the well-known investor behind the “DeepF———Value” account on Reddit and “Roaring Kitty” on YouTube. On June 2, Gill posted a screenshot of his investment portfolio, revealing that he holds a significant amount of GameStop common stock and call options.

Gill’s return to the social media spotlight has sparked a wave of interest among retail investors, driving GameStop’s stock price up significantly. On the first trading day of the week, GameStop shares surged approximately 30%, trading at $30.26 per share. In after-hours trading, the stock continued to climb, increasing by more than 70%, and closing at $28.

This isn’t the first time Keith Gill has caused a surge in GameStop’s stock. In May, a simple post by him also led to the stock price doubling within a month. Thanks to that price increase, GameStop raised over $900 million from stock sales.

Gill, who previously worked as a marketing employee for Massachusetts Mutual Life Insurance Company, gained fame in 2021 when he encouraged a group of retail investors to initiate a “short squeeze” against hedge funds shorting GameStop stock. This event caused chaos in the financial markets, prompting brokerage firms like Robinhood to restrict trading of GameStop shares and leading to a series of hearings before the U.S. Congress.

Despite the recent surge in stock price, GameStop continues to face challenges in transitioning to online gaming instead of traditional video game sales. Investors are hopeful that CEO Ryan Cohen will be able to successfully revitalize the company. – Crypto forum discussions about all aspects of cryptocurrency bitforum socialfi #InnovationSocialNetwork


Meme Stock is coming back. New wave of alternative investment is coming.

Meme stock as GameStop’s surge is primarily driven by a short squeeze.