GameStop Corp's stock surged 5.31% in Thursday's trading session, riding on a wave of retail investor enthusiasm that fueled a broader meme stock rally.
The iconic video game retailer, which was at the center of the 2021 meme stock frenzy, saw its shares soar following a cryptic post from Keith Gill, the online persona known as "Roaring Kitty." Gill's post, featuring a mock-up of a Time magazine cover with a blank computer screen, sparked speculation among traders and reignited interest in the meme stock phenomenon.
Analysts attribute the rally to the resurgence of the "fear of missing out" (FOMO) sentiment among retail traders, particularly those active on social media platforms like Reddit's WallStreetBets forum. GameStop has been a frequent topic of discussion on these forums, likely contributing to the stock's recent gains.
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