Meme Stocks GameStop, AMC Take Off After ‘Roaring Kitty’’ Resurfaces With A Cryptic X Post: Retail Excited

Keith Gill, widely known by his X social-media handle ‘Roaring Kitty,’ returned to the platform after a three-month hiatus, sending meme stocks into a tizzy. 

Through his Reddit posts and YouTube videos, Gill was responsible for the massive 2021 GameStop short squeeze that sent the stock from single-digit levels to over $120. He went silent on social media in June 2021 before returning in May this year.

Since then, Gill has been posting cryptic pictures on and off on X. Later, using his ‘DFV’ handle, he posted a screenshot of his trading account showing a huge GameStop position on the  r/Superstonk Reddit thread and updated it a few times. 

On Thursday, he shared a Time Magazine cover picture atop a personal computer’s video screen, which is paused at 1:09 of the 04:20 total duration.

The post assumes importance as GameStop is scheduled to report its fiscal year 2024 third-quarter results after the market closes on Dec. 10. Analysts, on average, expect the company to report a loss of $0.03 compared to break-even results a year ago. Revenue is expected to decline from $1.08 billion to $887.68 million.

GameStop stock, which was hugging the unchanged line until the post, went parabolic on above-average volume. Since then, it has lost some of its gains. The stock settled Thursday's session up 5.83% at $28.60, after moving in a $26.15-$30.87 range.

Fellow meme stocks also capitalized on the frenzy. Shares of theater chain AMC Entertainment Holdings, Inc. ($AMC) ended the session up 5.73% at $5.19, also on above-average volume. Earlier in the day, it rose as high as $5.56.

Chewy, Inc. ($CHWY), another meme candidate, did not partake in the rally as the shares of the pet food and supplies retailer slumped over 6.5% following the company’s quarterly results reported Wednesday. 

Following the post, retail sentiment toward GameStop flipped from ‘bearish’ to ‘bullish’ accompanied by an improvement in message volume to ‘high.’ But sentiment has since then tempered to 'neutral.'

On AMC, the retail mood turned ‘extremely bullish' (88/100), with message volume spiking to ‘extremely high’ levels. 

Some in the retail crowd set their sights on $10 for AMC and $40 for GameStop.

A few, however, cautioned regarding a “pump-and-dump.”

Email newsroom[at]stocktwits[dot]com for updates and corrections.<