GameStop and AMC return to social media with Roaring Kitty
Keith Gill, known online as “Roaring Kitty,” has once again made waves in the stock market. In the year On December 5, 2024, Gill released a cryptic image of X, which appears to be a modified Time magazine cover from 2006. This cryptic post sent ripples through the market, sparking a rally in both GameStop and AMC shares. Gill is no stranger to influencing stock prices—his posts played a major role in GameStop's short squeeze in January 2021, when the stock soared more than 1,600%, rocking the financial world and crushing hedge funds that had bet against it.
GameStop price increase
After Gill's latest post, GameStop stock jumped 16%, to $30.87. It later closed at $28.60, still down 6% over the past five days. The surge resulted in a brief halt in business, indicating that people are still responding strongly to Gill's posts, demonstrating the unpredictable nature of the comic stock.
AMC follows suit
The post also boosted the price of AMC Entertainment, a favorite among retailers, which also rose 12 percent, to $5.55. While that's a long way from AMC's all-time high of $261 in 2021, it shows how Mem's stock moves continue to resonate in the market. AMC, like GameStop, became a symbol of retail investors challenging Wall Street hedge funds, and Gill's involvement continues to drive interest.
Memecoin GME makes waves
In addition to shares, the unofficial GameStop Solana-based memecoin (GME) saw an impressive 72% rise following Gill's post, briefly reaching $0.007672. Although it later returned to $0.006488, the coin's price movement highlights the connection between Gill's online presence and the memecoin market.
Return of the Roaring Kitty
In the year After a quiet period following the GameStop rally in 2021, Keith Gill (Roaring Kitty) returned to social media in May 2024, sparking renewed interest in meme stocks and crypto. His posts in September and December showed that his influence is still strong, causing large price movements. However, his influence has attracted legal attention.
In June 2024, a GameStop investor accused him of stock fraud, but the case was dismissed, sparking a legal investigation into Gill's influence on the market.
The impact of speculative trading
Crypto analyst Evan Roaring Kitty (Keith Gill) noted that GameStop stock jumped 5% after posting on X. He joked that the market doesn't always work the way it should because this shows that one post can move stock prices. It goes against the idea that prices should always reflect all available information. This trading feature shows how speculative trading works even when the stakes are very high.
