GAMESTOP SOARS After Roaring Kitty RETURNS

Summary

Keith Gill, known as Roaring Kitty and the catalyst behind the 2021 GameStop frenzy, has returned to social media after three years, causing GameStop's stock to surge by 74% in a single day. His reappearance also boosted other meme stocks like AMC by over 100%. Gill's influence, stemming from his internet presence and relentless pursuit to challenge Wall Street, highlights the ongoing power of online movements in the stock market. Despite past legal battles and controversies, his comeback continues to captivate and impact the financial world.

Takeaways

• 😺 Keith Gill, also known as Roaring Kitty, has made a return to social media after a three-year hiatus.
• 📈 His first tweet in three years led to a 74% increase in GameStop's stock price in a single day.
• 🎥 AMC, another 'meme stock', saw its shares rise by over 100% following Gill's return to the spotlight.
• 🚫 GameStop shares had to be halted multiple times on the trading exchange due to the extreme volatility.
• 🎬 Keith Gill was portrayed in the movie 'Dumb Money', which depicted him as an endearing nerd who made a fortune from his investment.
• 📊 The return of Keith Gill has sparked a renewed interest in meme stocks and the options market, particularly among retail investors.
• 💡 The situation highlights the power of social media influencers to move markets, challenging traditional financial authority figures.
• 🤔 The event also raises questions about the fairness and transparency of the stock market, especially in light of past manipulations.
• 🛑 The Robinhood platform's response to the 2021 GameStop frenzy, restricting buying and allowing only selling, is seen as an example of market manipulation.
• 💰 Keith Gill's success story, turning $50,000 into tens of millions, is a testament to the power of online influence and community action.
• 🎉 The return of Roaring Kitty and the surge in meme stocks is seen as a fun and engaging story, especially after the tense period following the COVID-19 pandemic and other socio-political events.

Q & A

Who is Roaring Kitty, also known as Keith Gill, known for?

Roaring Kitty, also known as Keith Gill, is known for being the man behind the original memestock craze on GameStop. He led online traders to an infamous short squeeze in 2021.

What was the immediate impact of Keith Gill's tweet after three years of silence on his account?

His tweet immediately sparked a 74% increase in GameStop stock in a single day.

Which other so-called meme stock experienced a significant increase alongside GameStop?

AMC, another meme stock, saw an increase of over 100%.

Why did GameStop shares have to be halted several times on the trading exchange?

GameStop shares had to be halted several times due to the extreme volatility and high trading volume.

What was Keith Gill's portrayal like in the movie 'Dumb Money'?

In 'Dumb Money', Keith Gill was portrayed as an endearing nerd who turned $50,000 into $48 million on paper, eventually becoming the subject of lawsuits and congressional testimony.

What was the significance of Keith Gill's first online post in three years?

Keith Gill's first post in three years was a cryptic photo of someone leaning forward in a chair, which sent GameStop stock up more than 100%.

How did the trading activity for GME (GameStop) affect the market?

The trading activity for GME was so high that it was halted for volatility, and even with just 10 minutes of trading, the stock did three and a half times the normal volume.

What does the increase in one-day bets in the options market indicate about investor behavior?

The increase in one-day bets in the options market indicates a growing risk appetite among everyday investors.

How did the GameStop craze reflect on the power dynamics in the stock market?

The GameStop craze revealed that an individual with online influence could move markets, challenging the traditional power held by large financial institutions and billionaires.

What was the reaction of the mainstream media and business anchors to the return of Roaring Kitty?

The mainstream media and business anchors struggled to grapple with the news of Roaring Kitty's return, highlighting the ongoing influence of internet personalities on financial markets.

What was the community's response to the GameStop short squeeze in 2021?

The community response was largely positive, with many people viewing it as a fun and engaging story, and a form of resistance against perceived market manipulation by large investors.

What was the outcome for Keith Gill after the GameStop event?

Despite facing lawsuits and congressional scrutiny, Keith Gill managed to leverage his internet personality to turn a small investment into tens of millions of dollars, becoming a symbol of the power of online influence.

Outlines

00:00

📈 Roaring Kitty's Return Sparks GameStop Surge

Keith Gill, also known as Roaring Kitty, has resurfaced after three years of silence, and his first tweet in that time has led to a staggering 74% increase in GameStop's stock price in a single day. This has also affected other 'meme stocks' like AMC, which saw an over 100% increase. The trading volume for GameStop was so high that it had to be halted multiple times on the exchange. The event has drawn attention to the power of individual online influencers to impact financial markets, reminiscent of the 2021 GameStop short squeeze led by online traders. The situation also highlights the ongoing interest in and potential risks of investing in volatile stocks.

05:02

💸 Keith Gill's Impact on the Stock Market and Public Perception

Keith Gill, who was portrayed in the movie 'Dumb Money,' has been a subject of controversy and legal action for his promotion of GameStop stocks. Despite this, he managed to turn an initial investment of $50,000 into millions through online influence, becoming a symbol of the American dream. His actions have shed light on the nature of hedge fund managers and the stock market, particularly highlighting the high-frequency trading practices of individuals like Ken Griffin. The narrative of Gill's success against Wall Street giants has made him a popular figure, and his recent activity suggests a potential resurgence of interest in meme stocks and the broader implications for market dynamics and investor behavior.

Keywords

💡Roaring Kitty

Roaring Kitty is the online pseudonym for Keith Gill, an individual who gained notoriety for his role in the GameStop stock surge in early 2021. He is known for his influence over retail investors through social media, particularly Reddit, and his actions have been significant enough to cause substantial market movements, as evidenced by the 74% increase in GameStop's stock price following his tweet after a three-year hiatus.

💡GameStop

GameStop is a video game and electronics retailer that became the center of a financial phenomenon in 2021, often referred to as the 'meme stock' craze. The company's stock (GME) was subject to a short squeeze driven by retail investors, many of whom were mobilized by figures like Keith Gill. The stock's price volatility led to trading halts and made international headlines.

💡Meme Stock

A 'meme stock' is a term used to describe a stock that has gained popularity and seen a significant increase in trading volume due to viral social media attention, rather than changes in the company's financial performance. GameStop and AMC are two prominent examples. The phenomenon is closely tied to the power of online communities to influence market behavior.

💡Short Squeeze

A short squeeze occurs when a stock's price increases sharply, forcing short sellers to buy the stock in order to prevent further losses, which in turn drives the price up even more. This trading scenario was a key element in the GameStop saga, where retail investors coordinated to trigger a short squeeze that impacted large hedge funds.

💡Trading Halt

A trading halt is a temporary suspension of trading for a particular security, often put in place by an exchange when there is significant news or volatility surrounding the stock. In the context of the video, GameStop shares were halted multiple times due to extreme volatility caused by the trading frenzy.

💡AMC

AMC Entertainment Holdings is another company whose stock became a 'meme stock' and experienced a surge in trading volume and price volatility similar to GameStop. The mention of AMC in the script highlights the broader impact of the retail investor movement on multiple stocks.

💡Risk Appetite

Risk appetite refers to an investor's willingness to take on risk in the pursuit of higher potential returns. The script mentions an increase in overall risk appetite, indicating a shift towards more speculative investments, such as those in 'meme stocks', which can offer high rewards but also come with high risks.

💡

💡Robinhood

Robinhood is a stock trading platform popular among retail investors that gained significant attention during the GameStop saga. The platform restricted trading of certain stocks like GameStop during the height of the short squeeze, which was a controversial move and led to widespread criticism and legal challenges.

💡High-Frequency Trading

High-frequency trading (HFT) is a type of algorithmic trading that involves rapidly placing and canceling a large number of orders in very short time frames to take advantage of minor price changes. Ken Griffin, mentioned in the script, is known for his involvement in HFT, which is often criticized for its impact on market stability.

💡Congressional Testimony

Congressional testimony refers to the act of giving evidence or statements before a committee or subcommittee of the United States Congress. Keith Gill was called to testify before Congress regarding his role in the GameStop trading frenzy, which brought public scrutiny to the actions of retail investors and online trading platforms.

💡Movie 'Dumb Money'

The movie 'Dumb Money' is a film that portrays the GameStop trading frenzy and includes a portrayal of Keith Gill. The script mentions the movie as a cultural artifact that reflects the public's fascination with the event and the individuals involved, such as Gill, who were seen as symbols of the struggle between retail investors and Wall Street.

💡Online Influencer

An online influencer is an individual who has the ability to affect the opinions, emotions, or behavior of a large number of people through social media platforms. Keith Gill is described as an example of the 'best of online influencer' in the script, highlighting his success in leveraging his internet presence to achieve significant financial gains and influence market dynamics.

Highlights

Keith Gill, known as 'Roaring Kitty', is officially back on social media after a three-year hiatus.

His return sparked a 74% increase in GameStop stock in a single day.

Trading of GameStop shares had to be halted multiple times due to extreme volatility.

AMC, another 'meme stock', also saw an over 100% increase following Gill's return.

Gill has not yet released a video on YouTube, but the community is eagerly awaiting his content.

Gill was portrayed in the movie 'Dumb Money', which depicted his journey from $50,000 to $48 million on paper.

His online posts have the power to significantly move the stock market, revealing the influence of individual investors.

The event highlights the power of online influence and the potential for individual investors to impact Wall Street.

Gill's actions led to a short squeeze on GameStop, causing significant losses for large investors.

The Robinhood trading platform restricted buying of GameStop stock during the height of the short squeeze.

Gill faced lawsuits and congressional testimony following his promotion of GameStop stocks.

His employer, Mass Mutual, was fined $4 million for Gill's activities while he was working for them.

Gill's success story is seen as the epitome of the American dream, turning a small investment into tens of millions.

The GameStop saga revealed the rigged nature of the stock market and the power dynamics within it.

The short squeeze inspired a movie and brought attention to the actions of hedge fund managers like Ken Griffin.

Gill's return to social media has reignited interest in meme stocks and the potential for another market movement.

The influence of individual investors on the stock market is a significant theme of the GameStop story.

The community is hopeful for another YouTube video from Gill, which could further impact the market.

Transcripts

some major breaking news roaring kitty

aka Keith Gil The Man Behind the

original uh memestop craze on GameStop

is officially back let's go and put this

up there on the screen roren Kitty Keith

Gil tweeting for the very first time in

three years on his account which then

immediately Sparks a 74% increase in a

single day on GameStop stock on top of

that AMC another so-called meme stock is

up over

100% they say that uh GameStop shares

actually had to be halted several times

on the trading exchange because of how

high it was going and ever and continues

actually to do so now Gil uh it appears

has not yet done a video on YouTube

we're all awaiting that he recently uh

was portrayed in the movie Dumb money

not a particularly great movie but it's

if you're on an airplane you should

watch it that's the way I would put it

uh dumb money uh recently came out and

kind of showed him as endearing nerd you

know in his basement who turned you know

what was it like $50,000 into $48

million on paper eventually sells gets

out subject of lawsuits of congressional

testimony uh most people thought they

would never see him again but for some

reason he is officially back and uh back

enough that it's always just amusing

watching CNBC and all these business

anchors actually grapple with this so

here's how they handle the news of the

return of roaring kitty yeah so this is

Keith Gill's first online post we've

seen in three years roran Kitty as he's

also known was if you remember really

the pi Piper of the mem stock frenzy in

2021 he led those online traders to the

infamous GameStop short squeeze this

morning posting kind of cryptic photo of

somebody just leaning forward excuse me

in a chair and that was enough to send

GameStop up as you said more than a 100%

it has been F halted for volatility a

Robert hum just sent out a note

explaining this said trading activity

for gme has been only 10 minutes the

rest of the day has been halted and even

with just 10 minutes of trading the

stock did three and a half times the

normal volume but it's not just gme guys

other so-called meme stocks like AMC are

also catching a bit it is one sign of

overall risk appetite increasing you'll

also see that showing up in the options

Market especially for the most volatile

corner of that Ultra short maturities

once really reserved for professional

Traders zero days to expire options have

climbed in popul it among everyday

investors these are one-day bets on the

direction of the market which can offer

outsize returns rewards and also

outsized risk so you just got to love to

see the translation the risk appetite

there ain't no risk appetite okay

everyone's just logging back into their

Robin Hood accounts and they're having

fun which was the entire point of the

GameStop craze but uh I mean look I

guess it just does show the power is

still there Crystal if you want it to be

uh for the internet it was such a fun

story at the time the short squeeze

getting the big investors getting

screwed inspired the movie made Ken Ken

Griffin became a household name there is

still some really really shady stuff

that went on with Robin Hood all of that

I think it was a very Illuminating

episode for everyone because you're like

oh man the system really is rigged like

absolutely that those were the pieces of

it that made the story so compelling and

so like illustrative of the uh realities

of our economy so first of all let's

just reflect on the power of this one

random dude who can post a meme and move

markets to this extent like that's

incredible and especially because listen

we're used to like you know the fed or

like Titans of Wall Street being able to

do this or Elon Musk you know a

billionaire being able to do the same

but here you have this guy who just

through the force of his like

persistence basically was able to

persuade people like we're doing this

you're coming along screw what they say

we're all in we're going to make this

happen we're going to screw the shorts

and you know through just basically like

his force and persistence being able to

move markets in this way and there's a

few things that I always found really

interesting about the story first of all

it really revealed something that I

think a lot of people intuitively know

which is how fake the stock market is to

begin with so the fact that you could

have this online movement and really you

know take it to uh Big Wall Street

players in a significant way that was

interesting and as I said sort of

revealed how fake a lot of this uh Wall

Street Shenanigans really are and stock

market prices Etc but then you also had

the other side of it which was listen

right when they're on the verge of a a

real Victory the collusion that occurred

and the you know top down crushing of

this movement and you know they they

made it so that on the Robin Hood

platform you could no longer buy the

stock you could only sell the stock and

that effectively at least for the time

really you know crushed the movement and

ended it so it was this David and

Goliath story David looked like he had

that hand and then Goliath comes in and

then you know um roring Kitty himself as

you were pointing to Sager became the

subject of all I mean he was really

aggressively they dragged him in front

of Congress lwuit I mean they went after

him like crazy you would think he was

the you know villain of the century Etc

um for his promotion of the GameStop

stocks so interesting to see he still

got it apparently yeah I mean his

employer Mass Mutual was actually fine

like $4 million because he was working

for them and doing stuff on he was a

poster I it's not even really fair

to be honest I mean let's be real like

it's an amazing feat he leveraged his

internet personality his YouTube videos

and Reddit posts turned $50,000 into

some nobody really knows how much of a

profit but tens of millions and millions

of millions of dollars for him and for

his family I mean that's that's the

American dream to me somebody like that

that's the best of online influencer and

he did it specifically by going after

and beating these hedge fund managers

who as the movie accurately portrays are

just the most like just the most the

worst people in the US they create

nothing they do nothing made tens of

billions of dollars betting and

defeating and trying to destroy

companies I mean Ken Griffin's entire

Innovation is highfrequency trading and

basically getting an edge by trading

something three microc ahead of somebody

else sorry I don't think you're adding

all that much you know to a value to the

United States but that this man is worth

what 3040 billion one of the richest men

in the United States that's exactly why

Gil became such a popular figure in his

own right and every time something like

this happens it does show you again this

get to the communitarian aspect of what

happened back in 2021 is we just come

out of covid I'm sure you remember this

too Crystal this was right after January

6 so things were tense I remember

covering this and just being like man

this is the first fun story I covered in

years it was just it it was great to

just get wrapped up in it now not great

for a lot of people out there and let's

be honest who did lose a lot of money

but you know you're an adult you know

you should at least know what you're

doing and by Keith's own admission he

never told anybody to buy the stock per

se Let's uh put this up there on the

screen just to reiterate this is

literally the meme uh that made it all

happen just it appears to show a guy who

is gaming leaning forward he has since

tweeted out like 25 different of his uh

signature memes which are like clips

from movies and other things just

inspirational Wolverine coming out of

the tank and killing somebody so maybe

he's back I would really love to see him

um actually do a YouTube video we have

uh one of those we can put here on the

screen so here you've got Wolverine in

the tank uh coming out you're seeing the

the god what is the metal the metal I

don't remember either totally blanking

on the name right now Griffin you want

to tell me what it is the Wolverine

origin story basically right is that

from or is that I think that one's from

Logan no I don't think so I think that

was in the accient because I never

watched Logan and I definitely have seen

that got it uh okay that was X2 I

apologize yeah that makes sense that

makes sense I actually loved those

movies X-Men movies were great I'm a big

Magneto fan um anyways I I think they're

coming back actually or there's some

fusion of the universe with Deadpool uh

that's X-Men Origins Wolverine that's

according to our Junior guy in the

control room thank you much we

appreciate you Ian um so it's one of

those where uh the memes are back the

stocks are back this will be a fun story

hopefully uh maybe this time around they

can crush somebody else Wall Street

person's dreams but we'll see and uh we

want to give everybody an update and get

some of the fun stuff into the show as

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