- Keith Gill, known as Roaring Kitty, made a return to Reddit, sharing a screenshot showcasing $65.7 million in GameStop call options on r/superstonk.
- Meme stocks like GameStop (GME) and AMC, as well as meme coins associated with the GameStop and Wall Street Bets trend, experienced a surge following Gill’s Reddit return.
- Over the past 24 hours, crypto assets such as GME and KITTY have seen triple-digit gains, with GME stock up 33% and AMC stock rising more than 10%.
Keith Gill, also known as Roaring Kitty, has sparked renewed interest in meme stocks like GameStop (GME) and meme coins associated with the GME trend. His return to Reddit is fueling speculation and significant price increases.
GME and AMC Stocks See Market Revival Following Keith Gill’s Reddit Return
In mid-May, the meme stock frenzy reignited with Keith Gill’s (Roaring Kitty) return to social media, sparking a sharp increase in GameStop, AMC, and other meme stocks reminiscent of the 2021 hype. However, the revival was fleeting with stocks like AMC and GameStop plummeting a week after Gill’s posts on Twitter.
Then Gill reappeared on Reddit under the alias u/deepfingvalue. Instead of the subreddit r/wallstreetbets, u/deepfingvalue shared a screenshot on r/superstonk showcasing $65.7 million in GameStop call options. Gill, the figure behind u/deepfingvalue, also held $115 million in GME.
Meme Crypto Assets See Notable Gains
As of press time, meme crypto assets tied to the GME and Roaring Kitty hype have experienced notable gains over the past day. Coingecko reports that a coin called GME has increased by 221% while KITTY has surged by 298%. All tokens named after the Wall Street Bets trend are showing double to triple-digit gains. For instance, WSB has soared by 486% in 24 hours.
Metrics indicate that GME stock is up 33% and AMC has risen more than 10% against the US dollar.
Conclusion
The return of Roaring Kitty on Reddit has clearly rekindled interest in meme stocks and coins. His posts are fueling speculation and significant price increases reminiscent of the 2021 meme stock craze. It remains to be seen whether this revival is fleeting or if meme assets will continue rallying.
