GameStop soars over 50% after flag bearer 'Roaring Kitty' resurfaces with X post
GameStop jumped 50% on Monday after "Roaring Kitty", a former marketer at an insurance firm credited with sparking the 2021 meme stock rally, returned to X.com after a three-year hiatus from social media.
Keith Gill, known as "Roaring Kitty" on YouTube and «DeepF***ingValue» on Reddit, was a key figure in the so-called Reddit rally, which saw shares of GameStop surge as much as 21-fold over two weeks in January 2021 before crashing to pre-surge levels in the subsequent days.
Gill on Sunday posted a sketch of a man leaning forward in a chair, a popular meme among gamers that indicates things are getting serious. It is his first post on X, earlier Twitter, after being notably absent on social media platforms since mid-2021.
«Roaring Kitty» did not immediately respond to a Reuters request for a comment.
GameStop stock hit a one-year high on Monday and was trending on investor-focused social media stocktwits.com, indicating interest from individual investors. Roaring Kitty and retail trading platform Robinhood were trending on X.com.
Roaring Kitty «seems to be the most likely suspect for the renewed interest today… but I would be careful not to characterize the participants in this phenomenon as investors,» said Art Hogan, chief market strategist at B Riley Wealth.
«There's no fundamental change in any of the companies that are popularized in this phenomenon.»
GameStop in March cut an unspecified number of jobs to reduce costs and reported lower fourth-quarter revenue.
The company has about a quarter of its
