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The GameStop memelord returns, stonks spike, market panics—and all he's done so far is post a bunch of mid memes

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Rich is a games journalist with 15 years' experience, beginning his career on Edge magazine before working for a wide range of outlets, including Ars Technica, Eurogamer, GamesRadar+, Gamespot, the Guardian, IGN, the New Statesman, Polygon, and Vice. He was the editor of Kotaku UK, the UK arm of Kotaku, for three years before joining PC Gamer.

In January 2021 something very odd started happening with the stock of GameStop, a once-beloved retail store that looked like it was stuck in bricks-and-mortar while its customers had long gone online. It spiked. And it kept spiking. Why? Anyone who offers a definitive answer would be a liar, but one major factor—and rallying point—was investor Keith Gill, known as Roaring Kitty, and the subreddit r/wallstreetbets..

Nevertheless this has essentially acted as the Horn of Rohirrim for all those whose favourite word is"stonks". The mere news of Gill's return to social media after such a pause, made with a teaser meme implying more to come, caused an instant rush and spike in GameStop stock: and, almost as quickly, a ban on trading in it.Shares of GameStop soared over 100% in value on Monday, before eventually closing at just over $30 per share .

That's because, whatever Gill may be up to, meme stocks are a terrible investment for the vast majority of small traders. The meme he initially posted on Twitter shows a man leaning forwards in his chair, usually used in the context of"shit's about to get real", and this was followed over the last 24 hours by a whole assortment of videos that all basically amount to a tease that something is happening.

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OpenAI, a company built on 'scraping' content without permission, makes a copyright claim against a subreddit using its logoRich is a games journalist with 15 years' experience, beginning his career on Edge magazine before working for a wide range of outlets, including Ars Technica, Eurogamer, GamesRadar+, Gamespot, the Guardian, IGN, the New Statesman, Polygon, and Vice. He was the editor of Kotaku UK, the UK arm of Kotaku, for three years before joining PC Gamer.
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