"The King's Return"! GME Soars for Two Consecutive Days
On Monday, Eastern Time, the leader of retail investors, known online as "Roaring Kitty," Keith Gill, posted on the social media site X. The photo showed a person playing a game, moving from a slouched position to sitting up straight, indicating he was taking the game seriously. This was his first post on the X platform since 2021, hinting at his return.
GME and AMC Soar for Two DaysOn the second day of the high-profile return of retail investors' "king," Keith Gill, retail investors launched another aggressive attack on meme stocks, with the short squeeze continuing in full force.
After achieving significant gains of 73% and 77%, respectively, on Monday, Eastern Time, GME closed up 60.10%, and AMC theaters rose 31.98% on the second trading day, with both stocks rising by double digits at one point in after-hours trading. These gains marked new highs since June 2021 and January 2021.
Since the close of trading last Friday, GME's market value has increased to about $18 billion. On Monday, the trading volumes of GME and AMC were 15 times and 20 times their 20-day average trading volumes, respectively.
This significant blow to short sellers was enormous. According to data from analytics firm Ortex Technologies, the paper losses for short sellers reached $1.6 billion on Tuesday, and the cumulative losses since Monday amounted to a staggering $2.4 billion.
Source：uSMART
This diagram is provided for illustrative purposes exclusively
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