May 29, 2024

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GameStop mentions surge on Reddit, surpassing Nvidia

2 min read
GameStop mentions surge on Reddit, surpassing Nvidia

Tiffany Hagler-Geard | Bloomberg | Getty Images

GameStop has once again become a hot topic on Reddit‘s famed WallStreetBets page Monday after the man who helped make it a meme stock reappeared online.

Mentions of the video game retailer on the Reddit forum topped 900 for the last seven days as of late Monday morning, according to market research platform Quiver Quantitative. With Monday’s boost, the stock surpassed artificial intelligence darling Nvidia to become the second-most referenced equity in that period — behind just the SPDR S&P 500 ETF Trust (SPY), a popular fund tracking the benchmark S&P 500 index.

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GameStop was the most talked about equity on WallStreetBets on Monday, with more than 700 mentions in the last 24 hours. The SPDR S&P 500 ETF Trust had the next most references at under 200.

Monday’s jump in discussion comes as “Roaring Kitty,” the user who helped catalyze the GameStop stock craze in 2021, posted online for the first time in nearly three years. Roaring Kitty, whose legal name is Keith Gill, posted a picture on X of a video game player leaning forward in his chair, suggesting he’s taking the game seriously.

It marked his first post on Reddit or X since 2021. The post has already garnered roughly 80,000 likes since it went up around 8 p.m. ET on Sunday night.

He followed that up with additional posts to X on Monday, with compilations of clips from popular TV shows and movies.

Multiple Reddit users shared screenshots of their GameStop positions on the WallStreetBets page following the return of Roaring Kitty. However, it appeared that many posts on the topic were being filtered out. One post showed a screenshot of GameStop’s intraday chart with the caption, “Oh we are so back.”

GameStop shares soared in Monday’s session and were halted several times due to volatility. With Monday’s rally, the so-called meme stock was up nearly 70% in 2024.

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