GameStop Corp. (GME) shares rallied 8.96% in the last 24 hours during Wednesday's trading session, driven by a surge in investor interest following a cryptic social media post from the famed trader Keith Gill, better known as "Roaring Kitty".
The tweet, which simply featured a picture of a wrapped gift and the caption "Merry Christmas", immediately sparked a buying frenzy in GameStop stock and related meme coins. Shares of the video game retailer jumped 7.68% in overnight trading on Robinhood, while the Ethereum-based GmeStop (GME) meme coin rose 5% and Kitty Inu (KITTY) surged nearly 18%.
Roaring Kitty's social media activity has repeatedly sparked significant market moves in 2024, as his posts are closely watched by a dedicated following of retail investors. The trader, who gained notoriety for his role in the 2021 GameStop short squeeze, has shared position updates on Reddit and even hosted YouTube livestreams during market hours this year.
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