GameStop Stock Reaches Monthly High Amid Investor Buzz

GameStop (NYSE: GME) saw its stock soar to its highest price in over a month trading above $27.00 on Monday. It settled at $26.48, marking a 5% increase over the past month. It also had a 2% rise on the day. What’s fueling this latest surge in the original meme stock?

The stock's uptick comes despite Keith Gill also known as Roaring Kitty. Gill has been maintaining a low profile. The trader initiated the 2021 GameStop frenzy. He made headlines in May when he posted a meme on Twitter (aka X) for the first time in three years. This reappearance ignited a stock price explosion. It continued when Gill hosted a live stream in June. He revealed a substantial share purchase.

However, despite Roaring Kitty’s recent silence GME has been climbing steadily. Is investor appetite for meme stocks still strong? Recent events, including the attempted assassination of presidential candidate Donald Trump, have stoked interest in risky assets. Major indexes like the S&P 500 saw modest gains. Nasdaq and Dow Jones also gained. This reflects a broader market uptrend.

In China, meme stock Wisesoft Co., whose name sounds like "Trump wins big" in Mandarin surged on Monday. This event shows the international scope of meme stock trends. GameStop's announcement of a $25,000 reward for a rare Lionel Messi sticker from the 2024 Panini Copa America collection highlights the company's efforts to diversify beyond video games. This move has seemingly been well-received by investors.

As the stock continues its upward trajectory the question remains. Can GameStop sustain this momentum? Or is this another fleeting moment in the volatile world of meme stocks?