Beyond Meat Inc (NASDAQ:BYND) and Plug Power Inc (NASDAQ:PLUG) shares are moving Monday morning in sympathy with GameStop Corp (NYSE:GME), which surged following a social media post from Keith Gill, also known as “Roaring Kitty.”
What To Know: GameStop shares are up more than 75% Monday morning after Gill, best known as “Roaring Kitty” on YouTube and X or “DeepF***ingValue” on Reddit, posted a screenshot to Reddit suggesting he currently has a $116 million bet on GameStop.
The image appeared to show that the trader is holding 5 million GameStop shares and 120,000 call options, which has sparked a move in several related meme names and stocks with high short interest. 24.68% of GameStop’s float is currently sold short, per Benzinga Pro. Beyond Meat has short interest of about 39% and Plug has short interest of about 26%.
Gill made his return to social media a couple of weeks ago following three years of silence. He first posted a meme of a person leaning forward in a chair before following it up with a series of short video clips. On Sunday, he posted an image of a green reverse Uno card around the same time he released the position update.
Gill posted a series of videos on YouTube leading up to the historic short squeeze in 2021. When GameStop shares eventually squeezed higher, the trader began posting updates of his positions on Reddit’s r/WallStreetBets. Gill is often credited with sparking the meme stock mania of 2021.
See Also: ‘Roaring Kitty’ Reveals Massive GME Position On Reddit, Including $65M Call Options: Is He Bringing ‘Courage’ Back To Wall Street?
BYND, PLUG Price Action: Beyond Meat shares were up 4.07% at $7.89 and Plug shares were up 5.11% at $3.50 at the time of writing, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
