Roaring Kitty Makes a Vague Comeback But GameStop’s Stock Price is Already Sizzling Out

By Ben Liew  •  in News
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source: Decrypt

Disclaimer: This article is not financial advice. Past performance is not indicative of future results.

Keith Gill AKA Roaring Kitty, the financial analyst at the centre of 2021’s GameStop saga is back after a three-year hiatus.

Gill’s return last Monday (13 May) comes in the form of a meme posted on his X account, of a man leaning forward in his chair – a popular meme in gaming indicating that things are getting serious:

Gill then subsequently posts a slew of even more cryptic messages in movie cuts with edited subtitles.

Nevertheless, the internet rallies behind him, skyrocketing GameStop’s share price over 200% in two days only to come crashing during Wednesday and Thursday’s market hours.

However, Gill did not mention GameStop until Tuesday night’s posting of a scene from Braveheart, where we can clearly see ‘GameStop’ in text during the iconic moment when William Wallace cries “Freedom!”

Why is this all so important? Well, if you haven’t seen Dumb Money on Netflix, which is based on the events and key figures surrounding the GameStop saga, we’ll save you the trouble of asking a finance bro.

Roaring Kitty, best known for his role in the GameStop short squeeze saga of early 2021, became famous for his YouTube channel and social media presence, where he shared his investment strategies and insights under the username “Roaring Kitty.”

He also posted on the Reddit forum r/WallStreetBets under the handle “DeepF*ckingValue.”

Gill’s analysis and bullish stance on GameStop (GME) stock, along with his detailed explanations and enthusiasm, attracted a large following of retail investors. This movement ultimately led to a short squeeze, forcing institutional investors who had bet against the stock to cover their short positions at much higher prices.

His influence drew significant media attention and led to congressional hearings on the matter. Gill testified before Congress, where he defended his investment strategies and denied any wrongdoing based on accusations of market manipulation.

The legal implications Gill might cause now that he is a known figure could be the reason for his murky narrative this time around.

Gill demonstrated a strong conviction in his investment, holding GME stock for an extended period and continuing to buy even when the price was low. This long-term commitment inspired confidence among retail investors.

The GameStop saga underscored the impact of social media and retail investor communities on market behaviour, challenging the dominance of institutional investors and highlighting the potential for future market disruptions driven by similar grassroots movements.

What will happen this time around? And with Gill continuously shitposting, does he know something we don’t?

Although things are looking bleak at the moment with the price closing at USD27.67 last night, a big fall from Tuesday’s highs, only time will tell.

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