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Meme stock fever is back. GameStop, AMC and other companies The stock price has risen in recent days from the false cycle of 2021. Roaring KittyThe key man behind the 2021 madness. But how long will the marketer and influencer posting primarily provocative movie clips sustain the meme stock revival?
Roaring Kitty was released in 2010. It's the alias of Keith Gill, a content creator and stock trader who is a financial advisor who is passionately betting on the price of GameStop shares in early 2021. The company has struggled to adapt to industry changes.
His live broadcasts and Reddit posts under the name DeepFuckingValue inspired many other day traders to buy into GME, driving the price from around $5 to a high of nearly $500 per share. The resulting short squeeze resulted in billions of dollars in losses for companies that were betting on GameStop's revival, and widespread market turmoil.
Roaring Kitty disappeared from social media in June 2021, months after testifying before Congress on the matter. But His Sunday Twitterhelped create excitement by showing someone holding a controller and snapping it to attention. Shopping for GameStopmovie theater chain AMC and other meme stocks with meme cryptocurrencies too.
At a closing price of $48.75, GME shares are up nearly 203% over the past five days, while AMC is up 117% to $6.85 over the same period. It's too big. But both stocks lost ground in Tuesday's trading amid questions about whether Roaring Kitty plans to do more than tweet video clips.
GME opened the day below $65 a share before plunging nearly 25% to close, while AMC had a 42% dip to close at $11.88.
Both stocks are rising after hours, however, we saw a sharp jump from the end of trading on Monday through Tuesday's markets. Can it be repeated? Just like meme coins, anything is possible with meme stocks. They are. Famous variable And it's often based on social media sentiment.
But it's unclear how much Roaring Kitty plans to increase its online presence — and whatever its plans, could it spark another massive meme stock revival? Roaring Kitty has yet to resume livestreaming and Reddit bull-posting from 2021. So far, it's been a series of tweets featuring meme-proof movie and music video clips.
That's enough to outscore GameStop and AMC's stock with different denominations of coins. But if that's all we get from Roaring Kitty, will this revival finally be more than a blip on the radar — a short-lived burst of nostalgia? Traders eagerly await the answer.
Editor's Note: This article was written with the help of AI. Edited and fact-checked by Andrew Hayward.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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