The meme stock madness returns 🤪
GameStop stock soared as much as 110% and was briefly halted due to volatility after "Roaring Kitty," the person credited with kickstarting the meme stock madness during the pandemic, posted online for the first time since 2021.
With $GME shares more than doubling in 24 hours, hedge funds lost more than $1 billion shorting the stock. Wallstreetbets crowd's idea is as simple as ever: Pump up the price just because the hated institutions are shorting the stock 🚀