GameStop Stock Rallies After Influencer Posts Update
Trendy day trader revives online enthusiasm
Company's shares see significant gains
GameStop shares saw a surge on Monday after Keith Gill, the trader known on Reddit as DeepFuckingValue and Roaring Kitty, posted an update on his investment in the company. Gill's analyses of GameStop stock and details of his resulting investment gains, which he posted on Reddit, are credited with inspiring the epic short squeeze of 2021.
On Sunday evening, Gill posted an illustration of a person holding a video, with the caption "buckle up." This post was widely interpreted as a signal that he was preparing to make a significant announcement about his GameStop investment.
On Monday morning, Gill did just that, posting a series of tweets in which he revealed that he had added to his GameStop position and that he believed the company's shares were still undervalued. These tweets sent GameStop's stock price soaring, and the company's shares closed up over 10% on the day.
Gill's latest update is a reminder of the power that retail investors can have in the stock market. In 2021, Gill's posts on Reddit helped to fuel a massive short squeeze that resulted in billions of dollars in losses for hedge funds that had bet against GameStop.
It remains to be seen whether Gill's latest post will have the same impact, but it is clear that he continues to be a major force in the GameStop story.
Comments