The US equity market experienced a surge in animal spirits as meme stocks rallied following a mysterious post from Keith Gill, also known as Roaring Kitty.
This resurgence reflects the excitement of the meme-stock phenomenon in 2021, which captivated retail investors and caused significant price movements.
GameStop Corp., a key player in the previous meme-stock frenzy, saw its shares increase by up to 14%, leading to a halt in volatility. Similarly, AMC Entertainment, another favorite among retail investors during that time, rose by as much as 13%. This activity highlights the ongoing impact of social media on stock trading and investor sentiment in the current market environment.