##  [# Gaming ETFs Surge on Gamestop Meme Stock Run](/sections/news/gaming-etfs-surge-gamestop-meme-stock-run) 

 

# Gaming ETFs Surge on Gamestop Meme Stock Run

 

 

GME stock rocketed over 100%, lifting gaming and retail ETFs.



 

 

 

 

 [![kent](/sites/default/files/styles/author_image_icon/public/2023-03/Kent_0.png?itok=V1U_V6-d "kent")](/authors/kent-thune) 

[By Kent Thune ](/authors/kent-thune)

 May 13, 2024

 Edited by: Ron Day

 

 

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The Gamestop meme stock craze returned Monday, boosting a handful of gaming and retail ETFs, as GME stock more than doubled at one point after comments from a pair popular social media figures.

The rise in GME helped to lift gaming and retail exchange-traded funds by as much as 8% led by the [**Yield Max Ultra Option Income strategy ETF (ULTY)**](https://www.etf.com/ULTY), which has the largest GME stock exposure at 6% of assets. Other ETFs gaining on the GME surge included the [**Amplify Video Game Tech ETF (GAMR)**](https://www.etf.com/GAMR) and the [**SPDR S&amp;P Retail ETF (XRT)**](https://www.etf.com/XRT), both up 4% Monday morning.

Trading in Gamestop was [halted](https://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts) temporarily as the price surged. It jumped 69% to $29.50 in early afternoon trading.

The trading frenzy began before markets opened as “Roaring Kitty,” a key player in 2021’s infamous meme stock short squeeze, returned from a three-year hiatus Sunday, [posting an image on X](https://twitter.com/TheRoaringKitty/status/1789807772542067105/photo/1) of a gamer intently leaning forward.

A popular and controversial social media figure, Andrew Tate, added to the morning craze by Tweeting [the message](https://twitter.com/Cobratate/status/1789978976594649443), “Buy 1,000,000 USD of Gamestop?” to his 9 million followers on X.

## Are Meme Stocks Making a Comeback?

The meme stock craze was a unique event in early 2021 that involved a surge in the price of stocks, such as [GameStop (GME)](https://www.etf.com/stock/GME) and [AMC Entertainment (AMC)](https://www.etf.com/stock/AMC), driven primarily by a large group of individual investors, often communicating and coordinating through online forums like Reddit.

In 2021, hedge funds heavily shorted GME stock, betting its price would decline. However, a surge in retail investor buying caused a "short squeeze." As the price went up, short sellers were forced to buy back shares to cover their positions, further driving the price up in a rapid snowball effect.

AMC stock was also up as much as 33% in morning trading, increasing speculation that the meme stock craze is returning.

There are 43 [ETFs that hold AMC stock](https://www.etf.com/stock/AMC), but none have heavy exposure, as the ETF with the highest AMC allocation, the [**Invesco Dynamic Entertainment and Leisure ETF (PEJ)**](https://www.etf.com/PEJ) holds a modest position of less than 2% of assets.

 
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 [ Kent Thune CFP, Senior Content Editor ](/authors/kent-thune) 

 

 

  Kent Thune is Senior Content Editor for etf.com, focusing on educational content, thought leadership, content management and search engine…   [View Bio](/authors/kent-thune)

 



 

 


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