GameStop's Stock Rises in Pre-Market as Roaring Kitty Reappears

After a sudden two-week hiatus, the Roaring Kitty Twitter account has returned. Alongside this comeback, GameStop's share price has almost doubled in pre-market trading, reaching $38.88 at the time of writing.

GameStop's Stock Nearly Doubles

The Twitter account belongs to Keith Gill, a financial analyst who has become a prominent stock and meme influencer. He played a key role in the 2021 GameStop short squeeze, which catapulted the GME share price to a record high of $483. This dramatic surge resulted in significant profits for many retail investors and substantial losses for several hedge funds.

Early Monday morning, the account shared an image of an Uno reverse card, seemingly retracting the "E.T. the Extra-Terrestrial"-themed farewell posted on Friday, May 17.

The previous reactivation of the Twitter account sparked suspicion, as Gill's other social media platforms on Reddit and YouTube remained inactive.

This time, Gill's Reddit account, DeepFuckingValue, posted on the SuperStonk subreddit, revealing that he was the GameStop whale buying $20 call options for GME expiring on June 21. These options are essentially bets that GME will be worth more than $20 on that date.

Even before Roaring Kitty identified himself as the GME whale, his trades were drawing significant attention, with his position growing to $116 million. Just a few weeks ago, a GameStop whale made headlines by earning $44 million from selling GME options right before Roaring Kitty's Twitter account went silent.

Gill's apparent comeback has sparked a rally in GME's price, nearly doubling since Friday afternoon. This surge could potentially increase the value of Gill's GME holdings to as much as $214 million by the time U.S. markets open later today.