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(Bloomberg) -- GameStop Corp. shares more than doubled after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the game retailer.Most Read from BloombergKey Engines of US Consumer Spending Are Losing Steam All at OnceHomebuyers Are Starting to Revolt Over Steep Prices Across USMnuchin Chases Wall Street Glory With His War Chest of Foreign MoneyNvidia Unveils Next-Generation Rubin AI Platform for 2026Oil Swings After OPEC+ Signals Pla
Billionaire investor Bill Ackman is known for his big bets. Right now, he's betting the house on this unique stock.
GameStop was the second-most actively traded stock, with 4.4 million shares changing hands by 4:30 a.m. ET. It was the first post from Gill's Reddit account, which was central in fuelling a meme stock trading frenzy about three years ago by sharing screenshots of his bullish GameStop trades.
Her flagship Ark Innovation ETF has slumped 20% year to date.
The GameStop (GME) stock saw a dramatic surge of over 19% in overnight trading following a post by Keith Gill, famously known as "Roaring Kitty" on Reddit.
Keith Gill, writing on Reddit, posted a screen shot that shows he has a $181.4 million position in the mem favorite.
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