GameStop and AMC soar as meme-trading sends Stonks up again

GameStop (NYSE:GME) stock more than doubled as so-called ‘meme-stock’ trading returned to the market.

The share hit a high of $36.70 in early deals, before trading was temporarily suspended, and it remained close to 75% changing hands at $30.42 after the market was restored.

The chaotic trading was triggered by the apparent ‘return’ of the original Reddit ‘meme-stock’ trader and Reddit user “Roaring Kitty”, aka Keith Gill.

Gills social media account posted a sketch of a gamer sitting forward, interpreted by his online audience as an investment signal. With no actual news, GameStop and fellow ‘meme-stock’ AMC Entertainment (NYSE:AMC), up 65% at $4.80, soared at the start of the trading week.

Shortly after that, the memegates opened.