Reuters
(Reuters) -GameStop shares surged more than 70% premarket on Monday after "Roaring Kitty" Keith Gill, the stocks influencer behind the 2021 retail trading frenzy, returned to Reddit with a post showing a $116 million bet on the embattled videogame retailer. The stock briefly doubled in value to $46.90, with roughly $1.1 billion worth of shares changing hands by 8:15 a.m. ET (1215 GMT), second only to the $1.6 billion in Wall Street favourite Nvidia, according to LSEG data. It was the first post in three years from Gill's Reddit account, where screenshots of his bullish GameStop trades triggered a rush of demand in 2021 for "meme stocks" - often companies with weak fundamentals that gained a cult-like following through social media hype.