Under the leadership of the 'king of retail investors', Meme stocks rose overnight, attracting well-known investors such as Duan Yongping to participate.

Gamestop closed up more than 21% at $28 per share, with a total market capitalization of 9.833 billion yuan. However, the stock had surged nearly 70% during the opening of the U.S. stock market, and then fell back due to rumors. The trading volume on that day was $5.383 billion, making it the third largest stock in terms of trading volume on the NYSE. However, Keith Gill, also known as the "Roaring Little Cat" and hailed as the "king of retail investors", seems to be firm. After the U.S. stock market closed, he once again shared a screenshot of his account, and the stock of Gamestop continued to rise more than 10% after hours, reaching $30.9 per share. As of the time of writing, Gamestop's after-hours trading on the U.S. stock market is up 10.57%, having previously risen over 16%.$GameStop (GME.US)$Another Meme stock

At the beginning of the trading, the stock surged more than 28%, and closed up 11.09% at $4.81 per share, with a total market capitalization of $1.422 billion. The AMC Entertainment stock night trading on the U.S. stock market saw a decline in its rise, and as of the time of writing, it is up 2.91%.$AMC Entertainment (AMC.US)$At the beginning of the trading session, it rose more than 28%, and closed up 11.09% at $4.81 per share, with a total market value of $1.422 billion. AMC Entertainment's night trading on the NYSE fell back, and as of the time of publication, it had risen by 2.91%.

Big Brother makes a fortune.

After the market closed, Keith Gill (nickname 'DeepF-Value') posted another screenshot on Reddit. Compared to the previous day, the screenshot showed no change in the number of shares held by his account for Gamestop. However, investment income increased significantly.

Among them, the investment return on 5 million shares of Gamestop stock was 31.62%, and the investment return on 120,000 call options was 76.04%. The latest book value of this account is $289 million, an increase of $78.6 million compared to the previous day.

In other words, Gill made a fortune overnight by creating a wave through his own post, raking in $78.6 million.

As for why the Gamestop stock price soared and then fell back, there are two factors affecting it.

One is that the trading platform is considering cutting off Keith Gill's internet connection. According to media reports, E-Trade, a brokerage firm owned by Morgan Stanley, is considering banning Gill from using its platform for trading and is currently conducting internal negotiations, out of concern for potential market manipulation.

The other is that the U.S. Securities and Exchange Commission (SEC) is investigating certain call options trading of Gamestop, which took place before and after Gill posted his message.

Ben Laidler, global market strategist at digital brokerage firm eToro, said: 'Gill invested his money in Gamestop, and some investors are obviously following in his footsteps, reigniting their interest in Meme stocks.'

Old opponent shorts.

After Keith Gill returned to the public eye, his old opponent, Andrew Left, founder of Citron Research, publicly stated that he would short Gamestop.

In the 2021 short squeeze, Left's shorting of Gamestop was unsuccessful, and this time he chose to short GME again.

Regarding Gill's post on Reddit, he said: 'I shorted it as soon as I saw it.'

In May of this year, Left announced that he held a short position in Gamestop. In a recent interview, he revealed: 'I have covered my short position from May and shorted it again today.'

He also pointed out that the position was smaller than his previous position, but did not disclose its size.

According to data analytics company Ortex Technologies, Monday's surge left Gamestop shorts with a paper loss of nearly $1 billion.

Data shows that Gamestop's short position is 57.6 million shares, accounting for 18.4% of the float.

Duan Yongping also enters short.

At the same time, well-known investor Duan Yongping also posted a trading screenshot on Snowball. Duan Yongping did not directly short GameStop, but sold call options with a strike price as high as 100. The expiration date of the options is January 17, 2025.

This also means that the current frenzy around GameStop may continue or intermittently last until early next year, and the stock price needs to exceed $100 for Duan Yongping's sold options to be exercised.

Some analysis suggests that GameStop's stock price needs to reach approximately $105 or higher for Duan Yongping to incur losses.

Edited by Jeffrey

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