soaring while squeezing hedge funds that had shorted the beleaguered companies out of billions. On Sunday, he emerged from a social media retirement of almost three years to trigger another bull run on GameStop shares — but unlike the first time, he hasn’t explained why he thinks it’s a good investment, or even mentioned the chain by name.
Instead, Gill shared a wordless meme on X of a gamer leaning forward in his chair, or “locking in,” per the current internet slang. That was all it took for the wildly speculative retail investors of forums like Reddit’s r/wallstreetbets to start buying GameStop , driving it to $64.83 on Tuesday morning, a price it hadn’t hit since June 2021, when it was coming down from a peak of $81.25.
But these spikes and halts haven’t exactly followed the 2021 script. Crucially, the last time around, Gill was writing Reddit posts and recording YouTube videos in which he made the explicit case that GameStop was undervalued — which is why he initially sank more than $50,000 into a long position on it back in 2019, gradually accumulating more shares from that point forward.
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