Key Points
- The Gamestop (GME) token reached a new ATH today, and it saw a surge of 70%.
- The GME token is paying tribute to the 2021 short squeeze of GameStop.
The GameStop (GME) token saw a surge in price of about 70% today, after reaching a new ATH. The current market cap of the token is about $149 million.
- Zoom
- Type
The GME token is racing along with the latest reports about Roaring Kitty and his GameStop shares.
Keith Gill is a stock trader aka Roaring Kitty who was known for the GameStop short squeeze back in 2021. It seems that he’s on his way to becoming a billionaire as the GME shares continue to surge.
Back on June 2, he posted that he had started trading the GameStop stock again with $180 million. The trader shared a $115.7 million position in GameStop shares and $65.7 million in call options on his Reddit account.
As expected, his revelation of another position on GameStop triggered rallies in the stock market, which led to an uptick in GameStop’s stock price.
According to the latest reports, Robinhood’s overnight markets saw GameStop jumping by 19% in 20 minutes after his post on Reddit, closing with shares of up to $38.8% in 2024.
Now, the stock’s price is over $39.
According to the latest reports, Gill is set to become a billionaire as GameStop stock rose to $67.50 per share in after-hours trading. Stock analysts claim that if it opens at current levels, his position would be worth around $1 billion.
Gill made waves in the markets back in May as well, when he came back on X after a 3 year break. This led to a considerable rise in shares and for the GME token which saw a surge of 370% in 24 hours.
Now, Roaring Kitty’s moves seem to have triggered a new rally for the price of the GME token once again.
What is GameStop?
GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, and this is the largest video game retailer worldwide.
GME is a meme token that’s dedicated to the project, paying tribute to the 2021 short squeeze of GameStop.