- Keith Gill, better known online as Roaring Kitty, has reemerged on social media, reigniting interest in GameStop and meme stocks.
- Keith Gill posted on social media for the first time in three months, instantly impacting the markets.
- Gill’s influence extends beyond traditional markets into the crypto space.
Keith Gill, better known online as Roaring Kitty, has reemerged on social media, reigniting interest in GameStop and meme stocks. His latest cryptic post on X (formerly Twitter) has sent waves through both the stock and crypto markets, echoing his influence during GameStop’s infamous short squeeze in 2021.
JUST IN: Solana $SOL meme coin $GME spiked 65% in 5 minutes following @TheRoaringKitty recent post
— BlockNews (@blocknewsdotcom) December 5, 2024pic.twitter.com/qMWan2ZotD
A Viral Post that Moves Markets
On Thursday, Keith Gill posted on social media for the first time in three months, instantly impacting the markets. His post featured a modified version of Time Magazine’s iconic 2006 “Person of the Year” cover, replacing its original elements with meme-worthy details like the numbers “69” and “420.”
This seemingly innocuous post sent GameStop shares climbing by 7% to $28.93, peaking near $31 before a temporary trading halt on Nasdaq. The post also fueled a spike in the Solana-based meme coin GME, which surged 72% in minutes to $0.0089 before stabilizing at $0.0067.
Gill’s History of Market Influence
Gill, also known as DeepF***ingValue on Reddit, rose to fame during GameStop’s 2021 short squeeze, where retail investors rallied against Wall Street short sellers. Dubbed a “nihilist’s Warren Buffet,” he became the movement’s de facto mascot, using cryptic online posts to mobilize a legion of traders.
In September, another Gill post—this time featuring a meme from Pixar’s Toy Story 2—briefly caused a 3.7% dip in Chewy’s stock price. The pet supplies retailer rebounded shortly after, but the incident highlighted Gill’s enduring ability to influence markets with minimal effort.
The Evolution of GameStop and Meme Stocks
GameStop’s meteoric rise during the meme stock craze prompted regulatory scrutiny, with SEC Chair Gary Gensler calling for reforms in equity market settlement times. The retail-led movement caused seismic shifts in market dynamics, forcing institutions to adapt to the power of collective retail trading.
Gill’s resurgence has reignited interest in GameStop, with the stock briefly touching $48.75 in April during his return to social media. While its price has since settled, the stock’s movements continue to reflect the fervor of its retail investor base.
The Crypto Connection: Meme Coins on the Rise
Gill’s influence extends beyond traditional markets into the crypto space. The Solana-based GME coin’s dramatic price surge following his post underscores the growing crossover between meme stocks and meme coins. The coin, which shares its ticker with GameStop, saw trading volumes spike within minutes of Gill’s social media activity.
A Return to Streaming Amid Regulatory Scrutiny
In June, Gill returned to YouTube after a three-year hiatus, discussing GameStop’s financials cautiously. His comeback coincided with reports of investigations by the SEC and Massachusetts regulators into his online behavior. Despite the scrutiny, Gill has remained a prominent figure in the retail investing landscape.
Six months ago, Gill’s last Reddit post revealed holdings of GameStop shares and cash valued at $268 million. At their peak in June, these holdings, including options, were worth $586 million, further cementing his reputation as a high-stakes trader with an uncanny ability to galvanize markets.
Conclusion
Keith Gill’s cryptic posts and market-moving influence demonstrate the ongoing power of meme culture in finance. Whether through GameStop, meme stocks, or crypto tokens, his actions continue to resonate with a loyal community of retail traders, shaping the landscape of modern investing.
