GameStop and Roaring Kitty Are Leading Meme Stocks Higher. It May Not Mean Much for the S&P 500.

GameStop stock briefly doubled in Monday morning trading after Reddit hero Keith Gill posted on his Roaring Kitty X account for the first time since 2021. Other meme stocks joined in the party, but the big three U.S. indexes were mostly unaffected. Gill, who made a name for himself by posting bullish research and screenshots of bets on GameStop stock in 2020 and 2021 when much of Wall Street was counting on its decline, posted a cartoon of a man leaning forward in a red chair.