Just months ago, Gill sparked a similar frenzy. After a three-year hiatus, his return to social media in May 2024 fueled an 80% rally in GameStop shares between May and June. Investors who took note of his timing—and acted swiftly—likely pocketed significant gains.

The reason for the move typifies what the meme-stock frenzy is all about–speculation and volatility driven by an online meme.

Shares of GameStop soared as much as 75% after meme stock influencer Keith Gill - who goes by “Roaring Kitty” on social media - revealed a $116 million position in the company.

Meme stocks like AMC and GameStop get their price spikes from strong buying interest. AMC soared on Thursday but erased all of those gains Friday as it fell nearly 10%. Shares soared after influential meme investor Keith Gill,

Analysts predict the company will post a loss of $0.03 per share, compared to breaking even ($0.00 EPS) in the same quarter last year, according to data from Benzinga Pro. The company has beaten analyst earnings per share estimates in three of the last five quarters.

Shares of GameStop Corp. were up 8.2% in extended trading after the videogame retailer reported a surprise third-quarter profit, despite falling sales.

The results are due after the close of trading on Tuesday. Shares of the videogame retailer are up 59% this year.