GameStop stock soared early Monday after Keith Gill, a key investor during the 2021 meme stock rally, revealed a major position in the video game retailer. AMC Entertainment (AMC) and other meme stocks jumped to follow GameStop (GME) higher.

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Gill, who goes by the username Roaring Kitty on social media platforms X and YouTube, on Sunday night posted on Reddit (RDDT) for the first time since early 2021. Gill appeared to post a screenshot showing a $181.4 million position in GameStop stock and options. However, it is unclear if it is Gill himself posting to the account. The latest Reddit post was made to r/Superstonk rather than r/wallstreetbets, where he posted his GME stock updates during the 2021 meme rally.

The June 2 screenshot indicates that Gill holds 5 million shares of GameStop stock worth $115.7 million, with an average purchase price of $21.274 per share. It also shows 120,000 call options that expire on June 21 with the right to purchase GME stock at $20 per share. The GameStop options are worth $65.7 million according to the screenshot.

Gill made a similar reappearance on X on May 12, when he posted a series of memes implying that he’s back and trading again. However, most traders who bought into the mid-May rally were underwater by May 17.

GameStop Stock Leads Meme Rally

GameStop stock leapt more than 74% premarket Monday to trade above 40 per share. If the early move holds, GME stock will open back at its May 15 levels. GameStop stock rallied 32% this year amid the meme stock resurgence.

AMC stock popped about 23% early Monday. Still, AMC stock has tumbled more than 29% in 2024 despite the Roaring Kitty rally.

BlackBerry (BB) surged 4.7% Monday morning. But BB stock is still down more than 21% this year.

Robinhood (HOOD) swung 2.8% higher Monday. Shares of the mobile broker have spiked 64% in 2024.

You can follow Harrison Miller for more stock news and updates on Twitter @IBD_Harrison

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