Lucky GameStop, AMC Dealers ‘Turn Thousands Into Millions’

Traders who were lucky enough to buy early on meme stock recently are reaping huge profits.

A rare whale that tracks trade data, Posted On Twitter, on April 24, the activity of a trader who invested $27,000 in call contracts when they were buying at $0.21 a pop.

The contracts peaked at $13.63, meaning the investment would have made a 6,400% return — turning $27,000 into $2 million, according to the firm.

In another post, data platform He showed. Nine days before Roaring Kitty's Twitter account came back to life on Sunday, a man traded off $32,000 in AMC Entertainment ( AMC ) stock options after a 4,000% gain.

Call contracts give buyers the right – but not the obligation – to buy a stock at a certain price and date.

He‘In the year It is not clear how investors who held GMI in 2021 interacted with newcomers during the last false cycle. Weird Wells did not immediately respond to a request for comment from Decrypt.

Meme Stock Mania Return to the markets After the Internet image that inspired the 2021 GameStop rally, passed Monday Posted online For the first time in years. GME stock is now up more than 200% over the past five days.

Roaring Kitty (His real name is Keith Gill.) helped. Fueling the 2021 parade With Reddit posts and live streams. On Sunday night, his first tweet in nearly three years prompted traders to pick up meme stocks and meme digital coins and tokens.

In the year In 2021, shares of dying companies like GameStop became popular on Internet forums after amateur traders began dumping them. This disappeared after Wall Street and government intervention – hedge funds that shorted stocks suddenly became valuable.

Cryptocurrencies also experienced significant growth during the period, with Mame coins and tokens in particular increasing in value. Since then they have experienced a resurgence and some now hold the largest number of digital assets by market capitalization.

Virtual properties based on internet comics and usually very volatile have this week. Rise in price with traditional stocks.

Edited by Ryan Ozawa.