Parker Green May 15th, 2024 - 3:02 PM
Three years after the original “GameStonks” movement went viral, GameStop stock value (GME) is skyrocketing once again. GME’s rise in value from $17 to (at one point) $36 per stock appears to be caused by the return of Keith Gill AKA “Roaring Kitty” on social media last night. A single picture tweeted by Gill has sparked a 70% increase in GameStop stock value, once again causing excitement and controversy in the worlds of gaming and Wall Street. The picture in question is a drawing portraying a gamer leaning forward in his chair, hinting at an upcoming opportunity to “lock in” and pay attention to what’s coming next. The tweet and picture can be seen below:
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
The picture is not the only new post from Gill, who has been silent on social media for nearly three years following the original GameStop meme stocks phenomenon. A string of cryptic posts featuring clips from famous movies and television shows have made their way onto Keith’s Twitter account. Short videos featuring captioned and fan-edited segments of films and shows such as Ferris Bueller’s Day Off, Sherlock, Iron Man, and more.
Fans and followers of Gill, who was recently portrayed by Paul Dano in the Sony Pictures film Dumb Money, have since flocked to the stock market to try and win big once again.
Already, CNBC reported that multiple temporary halts on buying GME due to volatility concerns have occurred and that GameStop short sellers on Wall Street have already lost nearly $1 billion dollars from today’s antics. Short sellers and the hedge funds attached to them were the targets of the original 2021 stock debacle, which cost them over $195 billion in losses in 2021. While this new upswing in investments certainly doesn’t come close to the chaos or damage of the original spike, GameStop stock closed at $30.45 today and has remained around that price point in after-hours trading.
