Keith Gill, the enigmatic figure behind the “Roaring Kitty” moniker, has once again ignited the volatile world of meme stocks. On December 5, 2024, Gill posted a cryptic image on X, formerly known as Twitter, that sent shockwaves through the market. The image, a modified Time magazine cover from 2006, sparked a dramatic rally in both GameStop and AMC stocks.
— Roaring Kitty (@TheRoaringKitty) December 5, 2024
GameStop Surges on Gill’s Post
GameStop’s stock price soared by 16% to $30.87 following Gill’s post, before settling at $28.60. This significant surge triggered a temporary trading halt, underscoring the market’s heightened sensitivity to Gill’s online activity. While the stock has experienced a slight decline over the past five days, the initial rally highlights the enduring power of meme stocks and the influence of retail traders.
AMC Joins the Meme Stock Frenzy
AMC Entertainment, another popular meme stock, also benefited from Gill’s post, climbing 12% to $5.55. Although this is far below its all-time high of $261 in 2021, the recent rally demonstrates the continued allure of meme stocks for retail investors. AMC, like GameStop, has become a symbol of the David-versus-Goliath battle between small investors and Wall Street institutions, with Gill playing a pivotal role in fueling this narrative.
Meme Coins Catch the Wave
Gill’s impact extends beyond traditional stocks. An unofficial GameStop-themed memecoin built on the Solana blockchain (GME) surged by 72% following his post, reaching a peak of $0.007672 before settling at $0.006488. This sharp rise underscores the speculative nature of the memecoin market and its susceptibility to social media trends and influencer activity.
After a period of relative quiet following the 2021 GameStop short squeeze, Keith Gill reemerged on social media in May 2024, reigniting interest in meme stocks and cryptocurrencies. His recent posts in September and December have solidified his status as a market mover, capable of triggering significant price swings with a single tweet or image. However, his influence has also drawn the attention of regulators, who are increasingly scrutinizing the activities of retail traders and social media influencers.
Also Read: Roaring Kitty Back in the Game: Keith Gill’s GME Bet Eyes Billionaire Status, But Faces Scrutiny
As the meme stock phenomenon continues to evolve, Keith Gill’s role remains central to its future. His ability to mobilize a passionate online community and ignite market volatility highlights the democratization of finance and the power of social media in shaping investment trends.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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