GameStop (gamestopeth.io)

Roaring Kitty

Kitty

Memecoin and stock influencer Keith Gill, better known by his online handle Roaring Kitty, appears to have sent GameStop, AMC stocks and a related memecoin surging after his latest cryptic post on X.&nbsp;
Gill’s posts have been cited as a driving factor for kicking off the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/gamestop-short-squeeze-highlights-the-power-of-decentralization" rel="null" target="null" text="null" title="null">GameStop short squeeze</a> in January 2021, which saw traders flip the table on Wall Street short-sellers by buying GameStop’s stock and sending it to all-time highs of over $81.
In his latest Dec. 5 <a data-ct-non-breakable="null" href="https://x.com/TheRoaringKitty/status/1864742787197116887" rel="null" target="null" text="null" title="null">post</a> to X, Gill posted an altered version of a 2006 Time magazine photo illustration paying homage to YouTube.
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 <img alt="Stocks, Trading, Solana, Memecoin" src="https://s3.cointelegraph.com/uploads/2024-12/01939a6b-824a-706c-bc0f-b133da727e56" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/TheRoaringKitty/status/1864742787197116887" rel="null" target="null" text="null" title="null">Roaring Kitty</a>
 </figcaption>
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No other context was provided, but traders seemed to have reacted to Gill’s post. GameStop’s stock surged over 16% after the post, hitting $30.87 at its peak during the trading session, <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/GME:NYSE?sa=X&amp;ved=2ahUKEwjM9uPVg5KKAxW7SGcHHfHtOEIQ3ecFegQIPhAZ" rel="null" target="null" text="null" title="null">according</a> to Google Finance.
Trading was temporarily halted <a data-ct-non-breakable="null" href="https://nasdaqtrader.com/trader.aspx?id=tradehaltcodes" rel="null" target="null" text="null" title="null">due</a> to volatility, <a data-ct-non-breakable="null" href="https://classic.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch" rel="null" target="null" text="null" title="null">according </a>to Nasdaq Trader. GameStop shares have since fallen back to $28.60, down 6% in the last five days. Meanwhile, an unofficial GameStop <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/what-is-solana-and-how-does-it-work" rel="null" target="null" text="null" title="null">Solana-based memecoin</a> GameStop (GME), which has no affiliation with the company, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/memecoin-supercycle-analysts-investment" rel="null" target="null" text="null" title="null">also saw a 72% rise</a> to $0.007672 following Gill’s post. However, it has since retreated to $0.006488, <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/gme" rel="null" target="null" text="null" title="null">according</a> to CoinGecko.
AMC Entertainment, a movie theater chain, another stock that has previously benefitted from the attention of Gill, also spiked.&nbsp;
According to Google Finance, AMC <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/AMC:NYSE?sa=X&amp;sqi=2&amp;ved=2ahUKEwiIiYv5kZKKAxXnS2wGHbapF2AQ3ecFegQIRBAX" rel="nofollow noopener" target="_blank" text="null" title="https://www.google.com/finance/quote/AMC:NYSE?sa=X&amp;sqi=2&amp;ved=2ahUKEwiIiYv5kZKKAxXnS2wGHbapF2AQ3ecFegQIRBAX">surged</a> 12% to a peak of $5.55 during the trading session. However, the stock is still far below its all-time high of $261, which it hit on June 18, 2021.
<figure>
 <img alt="Stocks, Trading, Solana, Memecoin" src="https://s3.cointelegraph.com/uploads/2024-12/01939a6c-d96e-71cd-a1d7-03dd27aaf130" title="">
 <figcaption style="text-align: center;">
 AMC Entertainment, a movie theater chain, was previously backed by Gill and has seen an uptick since he made his recent post. Source: Google Finance&nbsp;
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Gill <a data-ct-non-breakable="null" href="https://www.congress.gov/117/meeting/house/111207/witnesses/HHRG-117-BA00-Wstate-GillK-20210218.pdf" rel="null" target="null" text="null" title="null">testified</a> before Congress on Feb. 17, 2021, about his role in the GameStop stock saga and went <a data-ct-non-breakable="null" href="https://twitter.com/TheRoaringKitty/status/1406054126555967495" rel="null" target="null" text="null" title="null">dark</a> on social media on June 19, 2021, the day after AMC stock surged to its all-time high.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/roaring-kitty-gme-shares-board-speculation" rel="null" target="null" text="null" title="null">Roaring Kitty buys another 4M GME stocks, birthing conspiracy theory</a>
After a three-year hiatus, Gill returned to social media in May. He made <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/roaring-kitty-chewy-memecoin-surge-gamestop-speculation" rel="null" target="null" text="null" title="null">another cryptic X post in September</a>, depicting Solana-based memecoin Chewy (CHWY), which resulted in a jump of nearly 28%, sending the coin to above $0.011.&nbsp;
On June 28, 2024, a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/roaring-kitty-securities-fraud-gamestop-gme-lawsuit-doomed" rel="null" target="null" text="null" title="null">GameStop investor sued Gill</a>, alleging he used his influence on social media to orchestrate a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/defi-scams-101-how-to-avoid-the-most-common-cryptocurrency-frauds" rel="null" target="null" text="null" title="null">pump-and-dump scheme</a>, artificially inflating the price of GameStop shares while investors suffered losses.&nbsp;
The lawsuit was <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/roaring-kitty-fraud-lawsuit-gamestop-investor-dropped-three-days" rel="null" target="null" text="null" title="null">dropped three days later</a> after the plaintiff filed a voluntary motion to dismiss. Former federal prosecutor Eric Rosen <a data-ct-non-breakable="null" href="https://www.dynamisllp.com/knowledge/roaring-kitty-sued-for-securities-fraud" rel="null" target="null" text="null" title="null">said</a> in a June 30 analysis the suit was doomed from the start because lawyers for the plaintiff would struggle to legally prove that Gill had committed fraud.&nbsp;
When the first GameStop short squeeze occurred in 2021, the stock surged by over 1,000% in a month. As a result, traders and memecoin traders often closely monitor Gill’s social media activity.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/normie-degens-go-all-in-on-sports-fan-crypto-tokens-for-the-rewards/" rel="null" target="null" text="null" title="null">‘Normie degens’ go all in on sports fan crypto tokens for the rewards</a>

GameStop, AMC stocks surge after cryptic Roaring Kitty post

Cointelegraph

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