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20 May 2024
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Ethereum

GameStop Shockingly Surges 110% as Roaring Kitty Returns

In what is a shocking development, GameStop has seen its shares skyrocket 110% during Monday’s trading session as Roaring Kitty, the father of the video game retailer’s short squeeze in 2021, has returned. Indeed, Keith Gill, the man behind the pseudonym, has posted a new video for the first time in years.

Specifically, Gill has taken to X (formerly Twitter) to post a variety of clips and images for the first time since 2021. The posts include references to films and television series, hinting at the return of the trader that inspired the Gamestop stock surge that took place four years ago.

Also Read: GameStop to Wind Down NFT Marketplace Amid Regulatory Uncertainty

Roaring Kitty Makes Return as GameStop Skyrockets

In an occurrence that was stranger than fiction, one man initiated a movement to catapult the value of one beloved video game retailer. Indeed, a Reddit user named Roaring Kitty helped lead the value of GameStop stocks in 2021, a feat of community empowerment that the stock market had never seen.

Now, the market is facing an interestingly similar situation, with one familiar face entering the fray. Indeed, GameStop has surged 110% as that same Roaring Kitty has returned. Specifically, Keith Gill had posted to social media platform X for the first time since 2021.

Source: Pixabay

Also Read: GameStop Hits Pause on Crypto Wallets Due to Regulatory Ambiguity

Gamestop had seen its stock trading halted five different times, with the company’s value surging. In Gill’s return post, he shared a diagram of a man who was leaning into his chair, not sitting up. Subsequently, Roaring Kitty shared a few different videos that implied his long-awaited return.

Additionally, AMC has seen its value increase by as much as 33% today, with other stocks increasing. Conversely, the GameStop increase that took place on Monday has led short sellers to lose around $1 billion.

That development is increasingly similar to 2021 when Gill initially posted his feelings about GameStop stock being shorted by prominent investment firms. Ultimately, those sentiments were what inspired the movement in the first place.

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