GameStop has once again become a hot topic on Reddit’s WallStreetBets page as mentions of the video game retailer topped 900 in the last seven days, making it the second-most referenced equity behind the SPDR S&P 500 ETF Trust. On Monday, GameStop was the most talked about equity on the forum with over 700 mentions in the last 24 hours. This surge in discussion coincided with the return of “Roaring Kitty,” also known as Keith Gill, who helped fuel the GameStop stock craze in 2021. Gill posted a picture on X of a video game player leaning forward in his chair, indicating he is taking the game seriously, marking his first post on Reddit in nearly three years.
Roaring Kitty’s post on X received around 80,000 likes since it was posted on Sunday night, and he followed it up with additional posts on Monday that included compilations of clips from popular TV shows and movies. Many Reddit users shared screenshots of their GameStop positions following Gill’s return, but it appeared that some posts were being filtered out. One post showed a screenshot of GameStop’s intraday chart with the caption, “Oh we are so back.” GameStop shares soared in Monday’s session and were halted multiple times due to volatility, resulting in the stock being up nearly 70% in 2024.
The resurgence of GameStop on WallStreetBets reflects the ongoing interest and excitement surrounding meme stocks and the influence of online communities on stock prices. The return of Roaring Kitty has reignited discussions and speculation among Reddit users, with many expressing their support for the stock. GameStop’s performance in the market has been closely watched, with its shares experiencing significant volatility due to factors such as short squeezes and retail investor enthusiasm.
The involvement of Roaring Kitty, who played a key role in the GameStop frenzy in 2021, has added to the renewed interest in the stock and the Reddit forum. His online presence has generated buzz and excitement among users, leading to a surge in mentions and discussions about GameStop on WallStreetBets. The impact of social media influencers and retail investors on stock movements continues to be a significant trend in the market, with meme stocks like GameStop attracting attention and investment from individuals seeking to challenge traditional financial norms.
As GameStop’s stock price continues to fluctuate and experience heightened volatility, investors and traders alike are closely monitoring its performance. The influence of online forums like WallStreetBets and the participation of influential figures like Roaring Kitty contribute to the narrative surrounding meme stocks and their unconventional market behavior. The ongoing saga of GameStop serves as a reminder of the power of social media in shaping stock prices and driving market trends, highlighting the evolving dynamics of the modern financial landscape.
