GameStop shares surge on Roaring Kitty's X post

GameStop (NYSE:GME ) stock witnessed a significant surge, climbing as much as 10% during intraday trading, marking the largest increase since December 11.

The jump in stock value followed a December 25 post by Keith Gill, also known by his online moniker Roaring Kitty. The post consisted of an image depicting a gift, accompanied by no explanatory text.

Trading volumes for GameStop soared, reaching nearly five times the 20-day average for the corresponding time of day, as per data compiled by Bloomberg.

The stock's ascent on Thursday contributed to a five-day winning streak, the longest since November 11.

Throughout the year, GameStop shares have experienced a notable rise, with an 85% increase in value.

The company's stock movement has been closely watched by investors, especially following a series of events earlier in the year that saw significant volatility in its share price due to a phenomenon involving retail investors and online trading platforms.

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Source: Investing.com