Revenge of the Meme Stocks: GameStop Shares Soar 70+% After Return of ‘Roaring Kitty’ to X/Twitter

The Associated Press
The Associated Press

Shares of video game retailer GameStop skyrocketed up more than 70 percent on Monday after Keith Gill, known as “Roaring Kitty” on social media and the leader of the meme stock movement posted a photo to his X/Twitter account for the first time since 2021.

Keith Gill, the man behind the YouTube Channel, Roaring Kitty, who spearheaded the 2021 day trader campaign against institutional investors betting on GameStop’s demise and led to the rise of meme stocks, took to his X/Twitter account on Sunday night to post for the first time since June 2021.

Without providing any additional context, Gill shared a photo of a man leaning forward in his gaming chair — a popular meme suggesting a gamer is reengaging or focusing on a subject.

“hey bro what we buying,” one X user wrote in the comment section of Gill’s post.

The Associated Press

In this image from video provided by the House Financial Services Committee, Keith Gill, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington, Thursday, Feb. 18, 2021. (House Financial Services Committee via AP)

Gill’s wordless social media post did in fact appear to drive retail investors to buy GameStop stock in droves once again, as the video game retailer enjoyed another massive jump, making Monday the company’s best day since 2021.

“GameStop’s stock rallied massively Monday despite no catalysts to the business other than the Roaring Kitty post, gaining 110% shortly after market open, sending shares from $17 to $37,” Forbes reported.

Gill has continued to post memes and videos since his first post.

Notably, GameStop saw its largest-ever single-day gain on January 27, 2021, achieving a 135 percent gain — although the stock was stopped several times during the first hour of trading.

Around that time, Gill had frequently pitched viewers on investing in GameStop, driving the meme stock mania. He is also the man responsible for the a string of posts on Reddit’s r/wallstreetbets, under the username DeepFuckingValue.

As a result of that, Gill’s influence increased and he found himself among the ranks of hedge fund billionaires like Steve Cohen and Ken Griffin, who became his bitter rivals.

Gill’s story was depicted in the 2023 film, Dumb Money, a “David vs. Goliath tale about everyday people who flipped the script on Wall Street and got rich by turning GameStop (the video-game store) into the world’s hottest company,” its IMDb page states.

You can follow Alana Mastrangelo on Facebook and X at @ARmastrangelo, and on Instagram.

Authored by Alana Mastrangelo via Breitbart May 13th 2024