Meme stocks are back. One day after an account associated with the phenomenon posted for the first time in years on the X social media platform, shares in companies that have been linked to speculative trading activity are soaring in value. Leading the way is video game retailer GameStop, whose shares soared 74% in Monday trading to about $30 and were up another 93% in Tuesday morning trading before the opening bell.
But on Monday, one of the chief meme-stock cheerleaders, known by the online moniker Roaring Kitty, posted a meme signaling he was planning to become active again.
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