In the early hours of trading, GameStop's stock price surged, recalling the GameStop short squeeze of 2021. Keith Gill, also known as 'Roaring Kitty,' reappeared on the social media platform X after a three-year absence. His return coincided with a significant increase in GameStop's stock value, reminiscent of the meme stock frenzy he helped ignite during the pandemic.

Following Gill's comeback on social media, GameStop's stock saw a notable 22% rise in early trading. Despite closing at $17.46 the previous day, the premarket surge pushed the stock to $20.36, marking a more than 16% increase from the previous closing price. Currently, GameStop shares are trading at $20.35, showing a gain of over 16% during the session.

The GameStop short squeeze of 2021 was a remarkable event that drew global attention. With around 140% of the company's public float sold short, the stage was set for a dramatic surge in stock prices as short sellers rushed to cover their positions. Driven by individual investors on the subreddit r/wallstreetbets, the squeeze propelled GameStop's stock to a pre-market peak exceeding $500 per share in January 2021, a massive 30-fold increase from its value at the start of the month.

This short squeeze had significant repercussions, impacting hedge funds and other short sellers who had bet against the struggling video game retailer. It showcased the influence of retail investors and social media in shaping market dynamics, challenging traditional views on investing and the role of individual traders in the financial world.

The resurgence of 'Roaring Kitty' has sparked renewed interest in meme stocks and raised speculation about the potential for another wave of market disruption driven by retail investors.