The Roaring Kitty’s Call to Action Sparks Meme Stock Surge

In response to a recent post by Keith Gill, also known as TheRoaringKitty, on the social platform X, stocks related to Gill and other “meme stocks” have experienced significant increases. Gill’s post, depicting a man leaning forward in a chair as a sign of intense focus, has been interpreted by users on X and Reddit as a call to action for trading. As a result, GameStop stock (NYSE: GME) surged as high as 44% in pre-market trading, while cinema chain AMC Entertainment Holdings (NYSE: AMC) increased by 12%. The unaffiliated GameStop meme coin on the Solana blockchain saw a surge of over 550%, while an AMC token increased by 1,200%. Microcap cat-themed meme coins also witnessed significant increases. This surge follows Gill’s analysis of GameStop on Reddit, which gained popularity during the COVID pandemic and contributed significantly to the January 2021 GameStop short squeeze. At its peak, Gill’s initial $53,000 investment in GameStop was worth nearly $50 million, resulting in him becoming one of the most prolific winners amidst the losses suffered by Melvin Capital, a fund that lost billions of dollars betting against meme stocks. Opportunistic developers have released a number of tokens referencing Gill, TheRoaringKitty, GameStop, and “stonks” within the past 24 hours.