This week will go down in market history as the return of Roaring Kitty. Keith Gill — known as Roaring Kitty on social media — the Massachusetts man credited with launching the GameStop (NYSE:GME) short squeeze of 2021, picked an interesting time to return to social media. After a long hiatus, he shared an apparently hand-drawn photo on X of a man playing video games, launching a meme stock frenzy. Unsurprisingly, both GameStop and AMC Entertainment (NYSE:AMC) quickly surged. After a solid two-day rally, sh ...

One of the top hedge funds in the world bought a sizable stake in GameStop just a few weeks before shares surged as much as 400% in the latest “meme stock” rally, a regulatory filing showed Wednesday.Renaissance Technologies, the quant firm founded by legendary investor Jim Simons, who died last week, bought just over 1 million shares of GameStop during the quarter ending in March, according to the securities filing.Assuming no changes in the position, the GameStop stake would be worth nearly $33.5 million ...

Group 1 - GameStop (NYSE:GME) stock is facing trading halts due to the New York Stock Exchange's Limit Up Limit Down (LULD) restrictions aimed at managing extreme volatility [1][2] - The stock has been halted from trading six times since the market opened on Wednesday, indicating ongoing volatility [1] - GME shares have decreased by 30.4% as of Wednesday afternoon, with over 73 million shares traded compared to a daily average of about 13.5 million shares [2] Group 2 - The recent decline in GME stock follows a significant rally driven by the return of the investor known as Roaring Kitty, who previously sparked the meme stock craze in 2021 [2] - Despite initial enthusiasm from meme stock traders, the current rally has not sustained the same momentum as seen in 2021 [2] - Other market stories of interest include the end of the short squeeze rally, Edible Garden (NASDAQ:EDBL) stock rising, and AMC Entertainment (NYSE:AMC) raising funds [2]

A top hedge fund built a GameStop stake from scratch last quarter ahead of the meme stock's surge. Renaissance Technologies' 1 million shares were briefly worth $65 million at Tuesday's high. RenTech, founded by the late Jim Simons, also boosted its AMC bet and pared Tesla and Nvidia. Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Access your favorite topics in a personalized feed ...

Group 1 - GameStop Corp. experienced a temporary trading suspension due to high volatility, with shares dropping by 25% shortly after the market opened [1] - After the initial suspension, GameStop's stock continued to decline, falling by 29.48% to $34.41 at 9:54 am ET, prompting a second trading halt [2] - The sharp drop in GameStop's share price followed significant gains earlier in the week, where shares surged by more than 100% on Monday and Tuesday due to investor speculation and market dynamics [3] Group 2 - The extreme volatility in GameStop's stock underscores the unpredictable nature of the market, especially for stocks known for rapid and dramatic price movements [4]

Amid a recently sparked meme stock rally, which has seen shares of GameStop (NYSE: GME), AMC Entertainment (NYSE: AMC), and BlackBerry (NYSE: BB) make massive price increases, the CEO of GameStop, Ryan Cohen, has grown his fortune by an impressive $1 billion in just two days.Specifically, Cohen, GameStop’s CEO, chairman, and largest individual shareholder with his 12% stake, has made nearly $1 billion (in unrealized gains) in the stock market over the course of mere 48 hours during the meme rally’s peak, ac ...

GameStop co-founder Gary Kusin likened the company's fanbase to the "global legions of Swifties," attributing their influence as a driving force behind the stock's Reddit rally in 2021 and its most recent boost of over 134% in just two days.  "When something jeopardizes the company so intertwined with their life memories, they will quickly bow their backs and fight. Emotion wins over analytics every time the topic is the fabric of their lives," Kusin – who co-founded the video game retailer Babbage's in the ...

No matter which side you were on during the initial meme stock mania in 2021, we can all agree on one thing – the market felt like the Wild West out there.Out of the bunch, GameStop (GME) was the most popular, shaking the market violently with a short squeeze of a magnitude rarely seen.Of course, other meme stocks, including AMC Entertainment (AMC) , also became a nightmare for short-sellers, causing violent price swings.And as we’re all aware, they’re back. Below is a chart illustrating the performance of ...

Group 1 - Proactive specializes in providing fast, accessible, and informative business and finance news to a global investment audience [1][2] - The company covers a wide range of sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [2] - Proactive employs a combination of human expertise and technology, including automation and generative AI, to enhance content production while ensuring all content is edited by humans [2]

These Are the Most Heavily Shorted Stocks Heating Up the Market Jonathan Weiss / Shutterstock.com The meme stock craze, which first captured headlines in early 2021, is experiencing a resurgence with retail investors buying shares of high short interest stocks, hand over fist. And as seen three years ago, investors who took the other side of this bet and shorted these otherwise struggling companies are left to cover their short positions.This maneuver is called a short squeeze, as short sellers are forced ...