Plug Power (NASDAQ: PLUG) stock jumped during intraday trading Monday, driven by a surge in GameStop (NYSE: GME) following a social media post from Keith Gill, aka “Roaring Kitty.”
GameStop stock surged more than 75% on Monday morning after a prominent trader Keith Gill, widely known as “Roaring Kitty” on YouTube and X (formerly Twitter) and “DeepF***ingValue” on Reddit, shared a screenshot on Reddit suggesting a staggering $116 million bet on the video game retailer.
The disclosed image indicated Gill’s ownership of 5 million GameStop shares and 120,000 call options, igniting a surge in several related meme stocks and those with high short interest. GameStop’s current short interest stands at 24.68% of its float, while Plug boasts approximately 26%, as reported by Benzinga Pro.
Gill returned to social media a few weeks ago after a three-year hiatus. He initially posted a meme of a person leaning forward in a chair on X (formerly Twitter) followed by a series of short video clips. On Sunday, he posted an image of a green reverse Uno card, coinciding with the release of his position update.
Gill gained prominence for his videos on YouTube leading up to the historic short squeeze in 2021. His updates on Reddit’s r/WallStreetBets during the GameStop frenzy are widely acknowledged as instrumental in the meme stock mania of 2021.
Plug Power (NASDAQ: PLUG) Stock Reaction
On Monday, PLUG stock rose 3.60%, closing at $3.45, marking a 6.15% increase for the week. The trading volume was 33,604,600 shares, lower than the average daily volume of 33.95 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
