Together with
The Future. Roaring Kitty, real name Keith Gill, appears to be back and ready to champion undervalued companies… influencing thousands of retail traders and scaring institutional investment firms. If Gill is really firing up the livestreams again, expect Wall Street to exit some short positions… and ultimately boost the stocks of several beloved but forgotten companies on the brink of bankruptcy.
Back to Bets
It may be the start of another meme-stock revolution.
- Roaring Kitty posted on social media on Sunday and Monday for the first time in almost three years — two posts on X (see here and here) that, while random, announced he’s back.
- Retail traders immediately rallied, sending GameStop’s stock up 118% yesterday before settling at 76% at closing, adding $6 billion to its market value (great news for a company plagued by layoffs and store closures recently).
- Other companies were also up at least double digits, including AMC Entertainment (which was saved from bankruptcy due to retail traders in 2021), Reddit, and cryptos bearing Roaring Kitty’s name.
- As for short sellers, they’re already losing money — GameStop short-sellers lost $1.4 billion yesterday.
Roaring Kitty, whose Reddit posts on the r/WallStreetBets subreddit and YouTube livestreams fueled a David vs. Goliath battle on Wall Street, turned memes and vibes into financial tools, and turned a lot of everyday people on to retail trading, stepped back from the spotlight after a series of Congressional hearings. He also made millions, of course.
Paul Dano, who played Gill in the movie Dumb Money, may need to start preparing for a sequel.
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