GME Stock News: GameStop Corp squeezes higher as Roaring Kitty makes his return


  • NYSE:GME added 12.17% on Tuesday, as the meme squeeze continued into June.
  • Famed Redditor Roaring Kitty made his return to social media today, and the Reddit Apes rallied.
  • AMC investor Mudrick sells its entire stake in the company at the inflated stock price.

NYSE:GME has continued its recent surge into June, as the lead meme stock and its investors rallied around the return of a familiar figure in the short squeeze saga. On Tuesday, GameStop added a further 12.17% to hit a staggering $249.02 at the closing bell, and shares continued to rise in after hours trading. GameStop and AMC (NYSE:AMC) have hit orbit once again over the past couple of weeks as the search continues for the Mother of All Short Squeezes or MOASS, and Redditors are not letting up even as short sellers are down billions of dollars. 


Stay up to speed with hot stocks' news!


Like a scene out of a dramatic movie, Tuesday saw the return of lead Redditor Roaring Kitty, who had been absent from all forms of social media since mid-April. The blackout coincided with Roaring Kitty exercising his call options on GameStop, which gave him approximately 200,000 shares, valued at over $50 million. While many took that as a sign of closure for the GameStop saga, it seems as though Roaring Kitty, otherwise known as Keith Gill, is back for more in the latest iteration of the Reddit short squeeze.

GME stock forecast

AMC also gained 22.76% on Tuesday alongside GameStop, even as Mudrick Capital disclosed that it was liquidating its entire position at the current premium share price. It remains to be seen if other investment firms will be cashing out their positions, but the ongoing hysteria is a risk that not many institutional investors are willing to take. Videos on Twitter and Tik Tok show some people believe the stock could reach levels over $100,000.00 per share, which points to a bubble that may not end well for some retail investors. 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Buyers lose traction near 0.6250 after Australian jobs data

AUD/USD: Buyers lose traction near 0.6250 after Australian jobs data

AUD/USD faces rejecton near 0.6250 early Thursday, erasing gains induced by mixed Australian labor data, which sent the pair to a one-week top. The pair's downside appears capped amid easing concerns over US President-elect Trump's disruptive trade tariffs and risk-on mood. 

AUD/USD News
USD/JPY extends decline to near 155.50, fresh monthly lows

USD/JPY extends decline to near 155.50, fresh monthly lows

USD/JPY sits at monthly lows near 155.50 in Thursday's Asian trading. The pair slides further as the Japanese Yen remains underpinned by prsopects of a BoJ interest rate hike next week while the Fed ponders over future rate cuts following the US December CPI report. 

USD/JPY News
Gold bulls retain control, sustained move beyond $2,700 awaited

Gold bulls retain control, sustained move beyond $2,700 awaited

Gold price touches over a one-month high in the Asian session on Thursday, with bulls now awaiting a move beyond the $2,700 mark before placing fresh bets. Benign US inflation data prompted traders to resume their bets for additional Fed rate cuts, which led to the overnight slump in the US bond yields. 

Gold News
Crypto Today: VanEck ETF filing drives BTC to $100k as Stellar tracks XRP price rally

Crypto Today: VanEck ETF filing drives BTC to $100k as Stellar tracks XRP price rally

Cryptocurrencies aggregate market capitalization reached $3.5 trillion on Wednesday, rising by $152 billion within the daily timeframe. This 4.8% increase is the highest single-day crypto market gains since in 35 days dating back to December 11.

Read more
Eurozone industrial production ticked up in November

Eurozone industrial production ticked up in November

The slight 0.2% rise in production from October is insufficient to indicate a reversal of the two-year downward trend. Overall, the outlook for industry remains quite weak at the start of the year.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures