Influential trader and analyst Keith Gill, also known as Roaring Kitty, sparked the recent meme-stock rally with his return to social media
GameStop shares ended Tuesday’s session up 22.8%.
Influential trader Keith Gill, also known as Roaring Kitty, appeared to be holding his position in GameStop Corp. as shares of the videogame retailer and original meme stock rallied after sliding in premarket trading.
GameStop’s stock closed up 22.8% to register its biggest gain since June 6, when the stock rose 47.5%. The company’s shares ended Monday’s session down 12% and closed down 39.4% Friday, registering their worst day since 2021 as Gill hosted his first YouTube livestream in three years.
A Reddit post on June 2 from an account associated with Gill appeared to show him holding a big stake in GameStop. Subsequent posts, including one on Monday afternoon, showed Gill holding the position, with 5 million shares of GameStop and 120,000 GameStop call options with a $20 strike price and June 21 expiration date, along with $29.4 million in cash.
On Monday, Stocktwits, a social platform for investors and traders, wrote about Gill on X: “He’s now down $51 million on the day, but still up 18%.” In a subsequent tweet, Stocktwits added: “If he bought [Nvidia] instead, he would be up around 35%.”
Gill also showed a screenshot of the same positions during his closely watched YouTube livestream Friday.
The trader was an influential figure in the 2021 meme-stock frenzy that sent shares of GameStop and AMC Entertainment Holdings Inc. skyrocketing. Gill’s return to social media last month sparked a new meme-stock rally that prompted a rise in shares of GameStop and AMC as well as other stocks.
On Sunday, Gill made another cryptic post on X. The @TheRoaringKitty account posted a still image from the Batman film “The Dark Knight.” The image showed the Joker, played by the late Heath Ledger, preparing for a bank heist, which is the first scene in the movie. In the posted image, a cat mask has been superimposed on the clown mask that the Joker carries.
On Monday afternoon, Gill posted an image on X of a man pointing at his reflection in a mirror with the words, “You were a billionaire.”
On Tuesday, Roaring Kitty made another post on X, a meme based on the children’s cartoon “The Amazing World of Gumball.”
GameStop shares are up 73.9% in 2024 and AMC shares are down 14.7%, compared with the S&P 500 index’s gain of 12.7%.
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