GameStop, AMC Entertainment Shares Spike Monday Afternoon: What's Going On? - GameStop (NYSE:GME)

GameStop and AMC Entertainment shares saw a spike in late trading Monday, driven by continued momentum from retail investors, despite no specific news triggering the rise. This follows a significant increase in their stock prices over the past month, with GameStop up about 131% and AMC nearly 43%. The recent rally is linked to Keith Gill, also known as Roaring Kitty, who recently reappeared on social media after three years, posting content that reignited interest among retail traders. Despite his silence since last Friday, the enthusiasm around these meme stocks persists, with high activity on social platforms and discussions about potential moves and strategies to counteract short sellers.

The recent rally in GameStop and AMC stocks was triggered by the return of Keith Gill, also known as "Roaring Kitty," to social media after a three-year absence. Gill, who is often credited with sparking the meme stock mania in 2021, posted a simple meme of a person leaning forward in a chair. This was enough to ignite interest among retail investors, who began discussing Gill's next potential move and the heavy short interest in the meme names on social platforms like Stocktwits and Reddit's r/WallStreetBets. As a result, GameStop shares surged by 74%, while AMC's stock climbed by 78%.