GameStop shares soared 74% on Monday following a social media post by Roaring Kitty.
The shares continued their rally in premarket trade on Tuesday, marking the second day of significant gains after the investor most famously associated with the company’s 2021 surge posted on social media for the first time in three years.
GameStop shares (GME) surged 40% in early premarket trading on Tuesday, building on a 74% rise on Monday, after Roaring Kitty’s return to the social media platform X for the first time since 2021.
Tuesday’s premarket gains indicate that its shares may surpass Monday’s peak of $38.20.
GameStop’s 74% rise on Monday was only its fourth best single-day performance since 2021, according to FactSet data. On January 27, 2021, its shares jumped 135%.
However, GameStop has experienced significant drops as well, including a 60% plunge on February 2, 2021.
Meanwhile, fellow meme stock AMC Entertainment (AMC) outperformed GameStop on Monday, surging 78%.
AMC shares continued to rise in premarket trading on Tuesday, gaining 39%.
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