Shares of GameStop more than doubled in price earlier this month after Keith Gill, an investment influencer known by the nickname Roaring Kitty, revealed he had increased his holding in the US video game retailer and was betting on future price rises. If those names sound familiar it’s because you’ve seen this movie before.
Three years ago Gill was one of a number of social media “finfluencers” who inspired an army of amateur investors to back GameStop by buying up as many of the firm’s shares as they could. They sent the share price soaring by some 1,300 per cent, creating a financial squeeze on the Wall Street institutions that had bet that the value of the firm’s shares would fall. While many small investors