Short-sellers betting against GameStop lost more than $1 billion on Monday.
GameStop stock soared as much as 118% on Monday, representing its biggest intra-day gain in over three years.
The stock soared after Keith Gill, also known as «Roaring Kitty» and «DeepF—ingValue» posted to X for the first time in three years.
Shares of GameStop hit an intraday high of $38.20, representing its highest level since August 2022. The stock has since pared its gains to about 76%, trading at just over $30 per share.
Monday’s gains in GameStop stock put it on track to print its biggest daily gain since February 24, 2021, when the meme-stock surged 104%.
