GameStop jumps after 'Roaring Kitty' returns following three-year hiatus

Weather’s role in wildfires in Atlantic Canada | SaltWire #weather #climatechange #wildfireseason - Shares of GameStop jumped 40% in premarket trading on Monday after social media persona"Roaring Kitty," whose online posts had sparked a trading frenzy in the videogame retailer in 2021, returned on X.com after three years.

GameStop was trending on investor-focused social media stocktwits.com on Monday, indicating interest from individual investors, while Roaring Kitty and retail trading platform Robinhood were trending on X.com. "There's been a few attempts where investors have tried to justify that it's the return of meme stocks, but we haven't quite seen that materialized," said Daniela Hathorn, senior market analyst at Capital.com.

The rally spread to highly shorted stocks including AMC as Reddit users banded together to squeeze hedge funds who had bet against GameStop and other firms.

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