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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Meme Stocks:
Trader euphoria stemming from the long-awaited return to social media by Keith Gill, the investor known for spearheading 2021’s memestock rally under the name of “Roaring Kitty,” has spilled over into the world of crypto.
A cryptocurrency created at the end of January utilizing GameStop’s name, logo and ticker rose more than 1,400% on Monday, according to CoinGecko data, despite having no legitimate affiliation with the company. GameStop, a video game retailer that became one of the most recognizable memestocks, was a target of Gill’s when he rallied day traders on Reddit in an effort to squeeze the company’s short sellers more than two years ago.
GameStop Trader ‘Roaring Kitty’ Return Drives Crypto Memecoin Frenzy – Bloomberg
