GameStop (GME), known as the “meme stock”, and meme coins, which are also focused on this stock, have started to rise again with the Reddit post of financial analyst Keith Gill.

$180 million position

In 2021, Gill, whose purchases of GME shares in 2021 caused large companies to be caught in the wrong corner and suffer huge losses, disclosed $ 116 million worth of GameStop shares and a $ 65 million call option in his post on Reddit. The strike price on the call option, which will expire on June 21, was $ 20.

GME shares, which closed Friday at $23, increased nearly 100% after Keith Gill’s post and managed to exceed $43 in pre-market trading.

After Gill’s tweet on May 13, GameStop shares rose sharply and the price rose from $ 24 to $ 64 in 1 day. The price retreated back to its old place in the following days.

Meme coin GME and KITTYs rose sharply

Gill’s post also had an impact on the cryptocurrency space. GME, which is based in Solana and actually has no connection to the GameStop company other than the name similarity, rose nearly 300% to $0.015. In addition to GME, tokens issued with the abbreviations KITTY and ROAR also saw increases of 440% and 330%, respectively.