Keith Gill, better known online as “Roaring Kitty,” has returned to social media once again. He posted an enigmatic image on X (formerly Twitter) after three months of silence.
Within hours, GameStop (GME), the stock synonymous with Gill’s meteoric rise to fame, surged 8%, triggering a trading halt due to the intense volatility. As always, retail investors, meme stock enthusiasts, and crypto circles alike are dissecting the post, searching for meaning behind the cryptic visual.
The image, styled like a TIME magazine cover, features a blank computer screen with a paused video. The video’s progress bar reads “01:09 / 04:20.” Many believe it could be a hint at a YouTube livestream in the near future.
— Roaring Kitty (@TheRoaringKitty) December 5, 2024
Kitty’s legendary legacy
Keith Gill became a household name in January 2021, leading the charge in the GameStop short squeeze that rattled Wall Street to its core. Posting under the moniker Roaring Kitty on YouTube and Reddit, Gill detailed his investment thesis on GME, encouraging retail traders to buy into the heavily shorted stock.
His early investment of $53,000 in GameStop shares ballooned into an astonishing $48 million during the height of the squeeze. GameStop’s stock soared over 1,000% at its peak, leaving hedge funds like Melvin Capital reeling with billions in losses.
Kitty’s passion for the stock made him a symbol of retail investor power and a thorn in Wall Street’s side. His influence outlasted the initial frenzy, maintaining momentum for meme stocks even after stepping away from the spotlight in 2021.
Earlier this year, he returned briefly in May and June, driving up GameStop’s stock price and confirming his continued stake in the company. At that time, he revealed holdings of 9 million shares valued at $262 million, cementing his ongoing commitment to the movement.
Trading halts are nothing new for GME where Keith is involved. Earlier this year, during a livestream where he showcased his massive holdings, the stock experienced similar fluctuations, with trading paused multiple times.
Investors are now eyeing GameStop’s upcoming earnings report, set for December 10, with analysts forecasting a $0.03 loss per share. The company has beaten estimates in recent quarters.
Kitty’s return coincides with Bitcoin’s historic breakthrough, crossing $100,000 for the first time ever. The crypto community, which shares strong ties with the meme stock movement, is riding super high right now.
Both phenomena represent the power of decentralized movements and retail investors taking control. With global stocks also rallying, the timing of Gill’s post feels like a deliberate alignment with the broader bullish sentiment. 2024 really has been one for the books!
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Source: https://www.cryptopolitan.com/retail-investors-hero-roaring-kitty-returns-again-gamestop-gme-already-halted/