GME Stock Price Increases Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● February 22, 2021
  • The stock price of GameStop Corp. (NYSE: GME) is trading at above 10% pre-market. This is why it happened.

The stock price of GameStop Corp. (NYSE: GME) is trading at above 10% pre-market as of 9:26 AM ET. Investors appear to be responding to Keith Gill (known for being one of the active traders behind the WallStreetBets short squeeze that happened in late January) loading up in more shares.

On Friday afternoon, Gill shared a screenshot showing that he bought 50,000 more GameStop shares. Previously, Gill owned 50,000 shares so he has doubled down. Now his holdings in GameStop are valued at over $4 million.

Gill — who goes by the alias Roaring Kitty — recently appeared at a Congressional hearing to discuss the influence that Reddit has on the market. And Gill also discussed why he continues to be bullish on GameStop at the hearing.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.