Shares of video game retailer GameStop soared after Keith Gill, known on social media as “Roaring Kitty” and leader of the meme stock movement, posted a photo on his X/Twitter account for the first time since 2021. It soared more than 70% on Monday. .
Keith Gill, the man behind the YouTube channel “Roaring Kitty,” spearheaded a 2021 day-trader campaign against institutional investors betting on GameStop’s demise, leading to a rally in meme stocks, but on Sunday night , posted on his X/Twitter account. First time since June 2021.
Without providing additional context, Gill shared a photo of a man slouched in a gaming chair. This is a popular meme that suggests gamers are re-engaging or refocusing on a subject.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
“Hey, what do you want to buy?” says an X user. I have written in the comments section of Gil’s post.
In this image from a video provided by the House Financial Services Committee, Keith Gill, also known as Roaring Kitty on social media forums, testifies during a virtual hearing at GameStop in Washington, Thursday, February 18, 2021. Masu. (House Financial Services Committee, via AP)
In fact, Mr. Gill’s unspoken social media post was a sign that retail investors were once again buying games in droves as the video game retailer enjoyed another big rally, making Monday the company’s best day since 2021. This appears to have been the trigger for buying stop stocks.
“GameStop stock rose significantly on Monday despite no catalyst in the business other than Roaring Kitty’s post, rising 110% as soon as the market opened, with shares trading from $17 to $37. ”Forbes report.
Gil has been posting memes and videos since his first post.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
Notably, GameStop posted its largest single-day gain in history on January 27, 2021, increasing by 135% in the first hour of trading, even though the stock was suspended several times. achieved an increase in
Around that time, Gill frequently encouraged viewers to invest in GameStop, fueling the meme stock mania. He is also responsible for a series of posts on Reddit’s r/wallstreetbets under the username DeepFuckingValue.
As a result, Gill’s influence grew and he joined the ranks of hedge fund billionaires like Steve Cohen and Ken Griffin, who became his bitter rivals.
Gil’s story was depicted in a 2023 film. dumb money“A David vs. Goliath story about everyday people who got rich by flipping the script on Wall Street and turning GameStop (video game store) into the world’s most popular company”, its IMDb page state.
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