GameStop stock surged as its biggest booster late Sunday appeared to reveal a new bold bet on the video game retailer.
GameStop stock was soaring to start the day on Monday, the morning after the Reddit account tied to Keith Gill posted a position update for the first time since 2021. AMC Entertainment shares were also up 26% to $5.47. The boost followed a post by DeepF—Value on Reddit that showed an account holding $181.4 million in GameStop stock and options contracts, based on Friday's close at $23.14.
A Reddit post from an account tied to Reddit folk hero Keith Gill that appeared to show $181 million in bets on GameStop stock was lifting a wide swath of so-called meme stocks. In a Monday note, analysts at Japanese bank Mizuho wrote that meme stocks “are going nuts again,” referencing Faraday Future up 22%, Crown Electrokinetics up 28%, and Koss up 15%, as well as GameStop and AMC.