Lucky GameStop, AMC Traders Turn Thousands into Millions

Fortunate GameStop and AMC traders are turning small investments into massive gains, thanks to the latest meme stock frenzy. One trader, highlighted by data tracker Unusual Whales, invested just $27,000 in call contracts on GameStop, which skyrocketed from $0.21 to $13.63, resulting in a mind-boggling 6,400% return and turning the initial investment into an astounding $2 million. Another trader saw gains of 4,000% after putting in $32,000 in AMC Entertainment stock options shortly before Roaring Kitty’s return to Twitter. While it’s unclear how long-term GME holders have fared compared to newcomers in this hype cycle, the meme stock mania is back in full swing, with GME surging over 200% in the past five days. This resurgence can be attributed to Roaring Kitty’s influence, who previously fueled the 2021 GameStop rally. Additionally, meme coins and tokens, which gained popularity during the chaos on Wall Street last year, are also experiencing a resurgence and have risen in value alongside traditional stocks.