GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Flashes $586M Worth of GME Position
What was the percentage increase in GameStop shares at the close of the Thursday trading session?
GameStop shares surged 47% at the close of the Thursday trading session, following an update from influential retail trader Keith Gill, also known as "Roaring Kitty", on his massive bet on the company's stock1.
How much is Keith Gill's combined stock and options position in GameStop currently worth?
Keith Gill's combined stock and options position in GameStop is currently worth around $586 million. This is based on a screenshot posted on Reddit by Gill, showing his updated position in the company.
What impact did Keith Gill's update have on the digital asset market, specifically relating to memecoins?
Keith Gill's update on his massive bet on GameStop stock had a significant impact on the digital asset market, particularly on memecoins. The Solana-based meme token GME, which was inspired by GameStop but has no affiliation with the company, surged more than 80% over the past 24 hours, according to CoinGecko data. Additionally, the micro-cap AMC token, which shares the name of the troubled movie theater chain but similarly has no affiliation, also jumped 83%. This comes after Gill, who rose to fame during the GameStop short squeeze, sparked a frenzy for memecoins last month when he returned to social media after three years of silence2. Since then, the GME token is up over 3,000% since mid-May and surpassed the $120 million market capitalization.