Roaring Kitty Purrs Again: GameStop Shares Soar as YouTube's Favorite Feline Investor Returns

Roaring Kitty Purrs Again: GameStop Shares Soar as YouTube's Favorite Feline Investor Returns

3 minute read
Published: 6/6/2024

In a turn of events that could only be described as Wall Street's equivalent of “Kitty Purry” making a comeback, GameStop shares recently surged as much as 40% following Keith Gill's announcement of his YouTube live stream scheduled for June 7. For those uninitiated, Keith Gill is better known as the internet’s investing catnip, “Roaring Kitty”.

Gill, whose return to the public eye was announced in a triumphant tweet—literally clawing his way back into the spotlight—has scheduled his first public live stream in years. Predictably, this announcement sent GameStop shares soaring, perhaps propelled by nostalgic investors remembering the meme stock madness that Gill so famously championed.

The 'Roaring Kitty' YouTube channel, which boasts more than 700,000 subscribers, quickly became the epicenter of excitement. It’s as if his followers were a litter of kittens, eagerly awaiting their catnip-touting master to return with more of the good stuff. And return he did, with a portfolio screenshot that could make even hardened Wall Street analysts do a double-take.

Gill shared a screenshot showing he holds a staggering 5 million shares of GameStop common stock and 120,000 call options, assets worth at least $200 million. His holding in GameStop shares had already topped $115 million, and with this latest rally, his stake is climbing faster than a cat up a drapery.

It wasn’t just GameStop shares that benefitted from Gill’s cat-like finesse. Gains were also observed in other meme stocks that have been particularly embraced by amateur investors, including AMC Entertainment and BlackBerry. It’s almost like he laid out a laser pointer that led straight back to these stocks, and the retail investor community couldn't resist chasing the red dot.

Of course, where there's big stock action, regulatory concerns are never far behind. E*Trade is reportedly considering removing Gill from its platform due to potential market manipulation related to his GameStop activities. One can imagine the platform’s executives frowning from behind their glasses, worried that Gill’s fur-midable influence might create more stock market chaos than they’d care to handle.

Despite these concerns, Gill’s return to social media has had a magnetic effect, drawing in rookie investors and experienced traders alike. It's like the financial world's version of a rockstar's comeback tour—one where the fans throw wads of cash instead of roses.

The implications of Gill’s re-emergence extend beyond his immediate fans. For a market that has grown increasingly skeptical of meme stocks, Gill’s actions have forced serious analysts to take a closer look. With paw-sible market manipulations in question, regulatory bodies will likely be keeping a close watch on this charismatic Kitty and his internet antics.

In the end, whether you're a seasoned investor or a casual observer, one thing is clear: Roaring Kitty knows how to whip up a frenzy. His name alone sends shares scurrying, investors purring, and market analysts scratching their heads. Now, as June 7 approaches, all eyes will be on Keith Gill to see if he has more nine lives left in his bag of tricks.

So, get your popcorn ready—or should we say, your premium catnip?—because Roaring Kitty is back. And as history tells us, where he goes, a market hullabaloo is sure to follow.