The post GameStop and AMC Surge on Roaring Kitty’s Return to Social Media appeared first on Coinpedia Fintech News
Keith Gill, known online as “Roaring Kitty,” has once again made waves in the stock market. On December 5, 2024, Gill posted a cryptic image on X, which appeared to be an altered Time magazine cover from 2006. This mysterious post sent Ripples through the market, sparking a rally in both GameStop and AMC stocks. Gill is no stranger to influencing stock prices—his posts played a major role in the GameStop short squeeze of January 2021, where the stock skyrocketed over 1,600%, shaking the financial world and crushing hedge funds that had bet against it.
GameStop’s Price Surge
After Gill’s recent post, GameStop’s stock jumped by 16%, reaching $30.87. It later closed at $28.60, still showing a 6% drop over the past five days. The sharp rise caused a brief trading halt, showing that people still react strongly to Gill’s posts, highlighting the unpredictable nature of meme stocks.
AMC Follows Suit
The post also pumped the prices of AMC Entertainment, another favorite stock among retail traders, also saw a 12% increase, reaching $5.55. While this is a far cry from AMC’s all-time high of $261 in 2021, it highlights how the meme stock movement continues to resonate in the market. AMC, much 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 the stocks, an unofficial GameStop Solana-based memecoin (GME) saw a remarkable rise of 72% following Gill’s post, briefly reaching $0.007672. Though it later pulled back to $0.006488, the coin’s price movement highlights the connection between Gill’s online presence and the memecoin market, which thrives on speculative trading.
Roaring Kitty’s Return
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 have shown that his influence is still strong, causing big price movements. However, his impact has also attracted legal attention.
In June 2024, a GameStop investor sued him for stock manipulation, but the case was dismissed, highlighting the legal scrutiny surrounding Gill’s influence on the market.
Impact of Speculative Trading
Crypto analyst Evan noticed that GameStop’s stock jumped 5% right after Roaring Kitty (Keith Gill) posted on X. He joked about how this shows the market doesn’t always work the way it’s supposed to since a single post can move stock prices, which goes against the idea that prices should always reflect all available info. This nature of trading shows how speculative trading works even if the stakes are very high.