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Roaring Kitty is back, and so are meme stocks, GameStop surges 40%

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The man at the center of the pandemic meme stock craze returned to the social platform X for the first time in three years and sent prices of some of those stocks surging overnight.

Keith Gill, better known as “Roaring Kitty,” posted an image on Sunday of a man sitting forward in his chair, a meme used by gamers when things are getting serious.

GameStop was a video game retailer that in 2021 was struggling as consumers switched rapidly from discs to digital downloads. Gill and those who agreed with him changed the trajectory of a company that appeared to headed for bankruptcy. Gill became a cause célèbre in 2021 after his posts on the Reddit subcategory Wallstreetbets ignited a Wall Street battle between thousands of smaller retail investors and large hedge funds that were betting heavily against the survival of GameStop, shorting its stock.

Koss Co. a headphone manufacturer, is up 37% this month and BlackBerry, the one time dominant smartphone maker, is up 4%. The retailer Bed, Bath & Beyond, another meme stock, sought bankruptcy protection last year.

 

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Roaring Kitty is back, and so are meme stocks, GameStop surges 40%The man at the center of the pandemic meme stock craze returned to the social platform X for the first time in three years and sent prices of some of those...
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