GameStop has once again taken center stage on Reddit’s WallStreetBets forum thanks to the return of the infamous “Roaring Kitty.” With mentions of the video game retailer surpassing 900 in the last week, GameStop has become the second most talked-about equity, just behind the SPDR S&P 500 ETF Trust.
“Roaring Kitty,” also known as Keith Gill, was a key player in the GameStop stock craze of 2021. His recent reappearance online has reignited discussions surrounding GameStop on social media platforms. Many Reddit users shared their GameStop positions in response to his return, indicating a renewed interest in the stock.
Following Roaring Kitty’s comeback, GameStop shares experienced a significant rally, leading to multiple trading halts based on volatility. The so-called meme stock has seen a nearly 70% increase in value since the beginning of 2024, showcasing the influence of social media personalities on stock performance.
Roaring Kitty’s first post in several years depicted a video game player in a serious gaming stance, garnering over 80,000 likes in a short period. His subsequent posts on X, a former platform known as Twitter, included compilations of clips from popular TV shows and movies. This online activity has further fueled discussions surrounding GameStop and its potential for future growth.
The return of Roaring Kitty has sparked renewed interest in GameStop among retail investors, leading to increased trading volumes and heightened market volatility. As social media personalities continue to influence stock trends, it is essential for investors to carefully evaluate the long-term potential and risks associated with meme stocks like GameStop.
The resurgence of Roaring Kitty and the subsequent surge in GameStop’s stock price serve as a reminder of the power of online communities in shaping market dynamics. As investors navigate through the evolving landscape of meme stocks and social media-driven trading, it is crucial to maintain a balanced approach and seek credible sources of information when making investment decisions.