Gamestop Frenzy’s ‘Roaring Kitty’ Nowhere To Be Found
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May 19, 2024 3:25 pm
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Amid the GameStop ‘meme stock’ frenzy, Keith Gill, also known as ‘Roaring Kitty’, is nowhere to be found as investors fear losing big.
The social media influencer and meme-trading phenomenon reportedly hasn’t tweeted in the past 24 hours—leading many traders to fear a pump-and-dump scheme.
Gamestop’s remarkable bull run was triggered by a single meme posted online from Roaring Kitty’s social media account.
Traders and market-oriented social media accounts noted Gills’s absence and the palpable effect on Gamestop’s stock price:
Roaring Kitty hasn't tweeted in the last 24 hours.
It's over. pic.twitter.com/oQviOBplkn
— wallstreetbets (@wallstreetbets) May 19, 2024
Roaring Kitty better start tweeting soon pic.twitter.com/dknsYeoAxu
— wallstreetbets (@wallstreetbets) May 19, 2024
Can’t wait for Roaring Kitty to return in 3 years
— borovik (@3orovik) May 19, 2024
Cryptopolitan noted:
Last week was nothing short of a rollercoaster for GameStop’s stock, which saw an almost fourfold increase to a Tuesday peak of $64.83—the highest since mid-2021.
By week’s end, GameStop reported a 27.2% rise in share price.
However, the company acknowledged that these dramatic price fluctuations seem disconnected from its actual business performance or operational results.
Gamestop’s stock went from trading under $20 to a whopping high of $64.89 in the span of days due to one social media post from Gill, also known as “Roaring Kitty’.
Decrypt provided a history lesson on the GME meme stock saga:
In late 2020 and early 2021, GameStop became the focal point of a massive coordinated buying effort initiated by retail investors on the Reddit forum r/WallStreetBets—including Keith Gill, also known as Roaring Kitty.
These investors aimed to trigger a short squeeze—a situation where short sellers are forced to buy shares to cover their positions, driving the stock price up further.
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