GameStop has traded as recently as 70% after the stock soared up to 110 percent. Trading at GameStop was stopped several times due to the volatility. AMC, a meme-related stock, gained 22% on Monday, while Reddit traded up 13%.

Roaring Kitty, whose official identity can be referred to as Keith Gill, is a former marketer at Massachusetts Mutual Life Insurance. Also called DeepF ——Value in Reddit, Gill drew an army of day traders that supported each other and gathered into the brick-and mortar video game stocks, as well as GameStop call options between 2020 to 2021.

The most well-known example was the hedge fund Melvin Capital which was very shorting GameStop and was a target of the army traders who were amateurs, and suffered huge losses that led Ken Griffin’s Citadel and Point72, and Point72 to support Melvin’s finances by providing close to $3 billion of support.

The GameStop fanaticism that lifted its stock to $120 per share, split-adjusted at the beginning of 2021 from as low as $3 within three months, pushed brokerages to include Robinhoodto restrict trading in heavily restricted stocks that are shorted. As a result, a Robinhood user contacted Robinhood to file a complaint a class-action lawsuitin the wake of GameStop’s decision to limit GameStop trading through its platform. The lawsuit was thrown out in August 2023 following the app’s decision to limit trading.

Another class-action suit brought against Gill claimed that he posed that he was a new trader, despite being a professional licensed.

The soaring volatility led to the beginning of congressional hearings regarding the conduct of brokers and the gamification of retail trading and also testimony from the CEOs in Robinhood, Melvin Capital, Reddit and Citadel and Gill. The entire episode ultimately resulted in the film ” Dumb Money,” where Paul Dano played Gill.

In the month of January, 2021 GameStop stock hit an historic highest of $120.75 during the day, after which they would have a fourth-for-1 stock split in summer 2022. However, when the enthusiasm of individuals waned the stock fell together with other meme stocks like AMC Entertainment Holdings. GameStop last month recorded an all-time low of $9.95.

Recently the stock has started to rise that could have renewed Gill’s curiosity, and the massive number of short-interest in the company’s name. GameStop has seen a 57% increase through May, and ended the week at $17.46.

But the business fundamentals at GameStop is evident in its latest earnings report is a disappointing image of the video game company. In the middle of the month of March GameStop announced that it would eliminated a number of jobs in order to lower costs and reported a decrease in fourth-quarter revenues amid growing competition from e-commerce-based rivals.

GameStop reported a profit of $1.79 billion in the fourth quarter of fiscal 2014 in comparison to $2.23 billion during the same period a year prior.