GameStop shares surged more than 80% at the market open on Monday after “Roaring Kitty,” the day trader who played a key role in the so-called “meme stock rally” of 2021, made a surprise comeback to social media.
Roaring Kitty, whose real name is Keith Gill, posted a popular meme that shows a man leaning forward in his chair while holding a video game controller. The meme sparked speculation that Gill, who had not posted anything online in years, was returning to the public eye.
The meme was viewed nearly 11 million times and received nearly 60,000 likes on X as of Monday morning at 9:30 a.m. ET. Gill did not include a caption or any other context.
“Hey bro what we buying,” one user commented on the post.
“TIME TO LOCK IN COUSIN,” another user said while posting their own version of the same meme.
GameStop, which has struggled with dwindling sales for years, had a share price of $31.70 as of Monday morning after getting halted multiple times. The stock is up some 90% since the start of the year.
Gill, a 37-year-old former employee at Massachusetts Mutual Life Insurance, helped spark a frenzy in which retail traders bought stock in struggling firms like GameStop and AMC to squeeze short-sellers.
GameStop’s value spiked more than 2,000% in the first months of 2021. At one point that year, the stock hit an all-time high of $120.75 in intraday trading.
Aside from his Roaring Kitty moniker, Gill posted as “DeepF—kingValue” on Reddit’s “Wall Street Bets” forum. Gill’s personal windfall from the meme stock rally was never disclosed.
Though the value of his GameStop stake was worth nearly $48 million at its peak, according to Reuters.
The meme stock rally famously caused the collapse of Melvin Capital, which was led by investor Gabe Plotkin and incurred heavy losses during the short squeeze.
The trend drew such intense scrutiny that Congress convened hearings in February 2021 to assess the situation – with Gill making an appearance as the star witness.
“Social media platforms like YouTube, Twitter, and WallStreetBets on Reddit are leveling the playing field,” Gill says in written testimony at the time. “And in a year of quarantines and COVID, engaging with other investors on social media was a safe way to socialize. We had fun.”
Gill was portrayed by actor Paul Dano in the 2023 movie “Dumb Money,” which chronicled the meme stock saga.