GameStop’s shares surged on Monday following the return of Keith Gill, the trader known as “Roaring Kitty,” to social media. Gill, who played a pivotal role in the 2021 meme stock frenzy, reappeared online for the first time in nearly three years.
Gill, who had been inactive on social media since June 2021, posted a meme on Sunday showing a video game player shifting from a relaxed to an alert posture. This image, similar to one shared by GameStop in February, caused the company’s shares to skyrocket once again.
The post and ensuing excitement echoed the significant market swings experienced in 2021, driven by the popularity of so-called meme stocks. Other stocks that saw dramatic increases during that period, including AMC Entertainment and BlackBerry, also saw their share prices rise on Monday.
Attempts to reach Gill for comment were unsuccessful. An attorney who previously represented him declined to comment.
In February 2021, Gill testified before the House Financial Services Committee as lawmakers investigated the market volatility of that year. He described how online platforms like Reddit were “leveling the playing field” for investors and provided a safe way to socialize during pandemic lockdowns.
Gill and other retail investors drove GameStop’s share price up nearly 1,800 percent in 2021, beginning in 2019. This movement was fueled by messages on the Reddit forum wallstreetbets, where users aimed to counteract Wall Street funds betting on the company’s decline as it transitioned from brick-and-mortar stores to a digital model.
The rally extended to other companies in similar situations, such as AMC and Nordstrom, as retail investors inspired by the Reddit community invested heavily, defying Wall Street expectations.
During this period, Gill gained a dedicated following among small-time investors. On Monday, wallstreetbets was abuzz with posts about GameStop’s latest stock spike from users claiming to have invested.
Gill had paused his social media activity on platforms like X and YouTube, where he previously held thrice-weekly investment live streams. During his 2021 testimony, he emphasized that these streams were for educational purposes and denied promoting GameStop stock to unwitting investors.
Since his return, Gill has posted over ten videos on X, featuring clips from TV shows and movies, but he has not appeared in any of the clips or mentioned GameStop or other stocks explicitly.
In his 2021 testimony, Gill stated he remained optimistic about GameStop’s potential. “In short, I like the stock,” he said. “What’s stunning is that, as far as I can tell, the market remains oblivious to GameStop’s unique opportunity within the gaming industry.”
