GME and AMC Stocks Experience Market Resurgence After Keith Gill's Reddit Comeback
The meme stock craze has been reignited in the middle of May with Keith Gill, also known as Roaring Kitty, making a comeback on social media. This has resulted in a significant surge in Gamestop, AMC, and other meme stocks, reminiscent of the hype in 2021. However, this revival was short-lived as stocks like AMC and Gamestop plummeted just a week after Gill's posts on X. But then, Gill resurfaced on Reddit using the pseudonym "Deepf***ingvalue."
Instead of posting on the subreddit r/wallstreetbets, Gill decided to share a screenshot on r/superstonk, revealing that he held $65.7 million in Gamestop call options. Furthermore, Gill, who is the person behind the username u/deepf***ingvalue, also disclosed that he had $115 million invested in GME. It is still unclear whether Gill has full control over the Reddit account or if he managed the X account @theroaringkitty.
As of now, meme crypto assets associated with the GME and "Roaring Kitty" hype have witnessed significant gains in the past 24 hours. Coingecko reports that the coin named GME has surged by an astonishing 221%, while KITTY has seen a surge of 298%. All tokens named after the Wall Street Bets trend are displaying gains ranging from double to triple digits. For example, WSB has soared by a staggering 486% within the span of 24 hours. Metrics show that GME stock has gone up by 33%, and AMC has risen by over 10% against the U.S. dollar.
What are your thoughts on Roaring Kitty's return to Reddit? Share your opinions and insights on this matter in the comments section below.