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GameStop soars 70% as 'Roaring Kitty', who drove meme craze, resurfaces - TL;DR CNBC

GameStop soars 70% as 'Roaring Kitty', who drove meme craze, resurfaces

Publishing timestamp: 2024-05-13 13:42:32


Summary

"Roaring Kitty," the man who drove the GameStop mania of 2021, posted online for the first time in roughly three years, sparking a rally in GameStop shares. The meme stock frenzy involved individual investors taking aim at short sellers and hedge funds, leading to volatility and trading halts. GameStop has seen a resurgence in May, despite discouraging business fundamentals. The return of Roaring Kitty has rekindled the GameStop meme rally, causing short sellers to lose $1 billion.


Sentiment: MIXED

Tickers: HOODGMEAMCRDDT

Keywords: business newsmarketsstock marketsinvestment strategyamc entertainment holdings incbreaking news: marketswall streetgaming softwaregamestop corpreddit incrobinhood markets inc

Source: https://www.cnbc.com/2024/05/13/gme-jumps-as-trader-roaring-kitty-who-drove-meme-craze-posts-again.html


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