Roaring Kitty's Return to Wallstreetbets Sparks Renewed Interest in Meme Stocks: GameStop and AMC Surge

New York, New York, USA United States of America
GameStop's stock price reached an all-time high of $120.75 intraday before collapsing to a three-year low of $9.95
His posts on Wallstreetbets caused a surge in GameStop and AMC stocks
Retail investors coordinated a buying spree in GameStop and AMC stocks, causing massive gains and short squeeze
Roaring Kitty gained notoriety for fueling the meme stock craze in late 2020 and early 2021
Roaring Kitty returned to social media on May 13, 2024
Roaring Kitty's return caused renewed interest in these stocks, with GameStop's shares doubling at the opening bell and AMC leaping 23%
Roaring Kitty's Return to Wallstreetbets Sparks Renewed Interest in Meme Stocks: GameStop and AMC Surge

Roaring Kitty, the influential figure behind the meme stock phenomenon, returned to social media after a three-year absence on May 13, 2024. His posts on Reddit's Wallstreetbets ignited a surge in GameStop and AMC stocks at the opening bell. The return of Roaring Kitty brought back memories of the meme stock craze in 2021 when retail investors battled hedge funds over GameStop's stock, causing it to skyrocket.

Roaring Kitty gained notoriety for his posts on Wallstreetbets that fueled the short squeeze of GameStop and AMC stocks. The meme stock craze began in late 2020 when retail investors coordinated a buying spree in these stocks, catching short sellers off guard and causing massive gains. The buying surge continued into early 2021, with GameStop's stock price reaching an all-time high of $120.75 intraday before collapsing to a three-year low of $9.95.

GameStop was a struggling video game retailer in 2021 due to consumers switching from physical discs to digital downloads. Roaring Kitty and other investors saw potential value in the company, leading them to buy shares en masse and drive up the price. The short sellers, who had bet against GameStop's stock, faced unlimited losses unless they bought back their shares at inflated prices.

The meme stock craze also affected AMC Entertainment Holdings Inc., which jumped 2,300% in 2021. Other meme stocks like Koss Co. and BlackBerry also saw significant gains during this period.

Roaring Kitty's return to social media on May 13, 2024, caused a renewed interest in these stocks, with GameStop's shares doubling at the opening bell and AMC leaping 23%. Shares of other meme stocks like Bed Bath & Beyond also saw gains.

Roaring Kitty's posts on Reddit sparked a battle between retail investors and hedge funds over GameStop's stock in 2021. The small investors, who were largely individual retail traders, won the battle for a time, driving up the price of GameStop and other meme stocks significantly.

The return of Roaring Kitty marks a potential turning point for these meme stocks. It remains to be seen whether this renewed interest will lead to sustained gains or another short-lived surge before collapsing once again.


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Confidence

91%

Doubts
  • Are there any new developments or information about Roaring Kitty that was not previously known?
  • Is the renewed interest in GameStop and AMC stocks sustainable or another short-lived surge?

Sources

81%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

GameStop shares soar nearly 70% as trader 'Roaring Kitty' who drove meme craze resurfaces

CNBC News Yun Li, Monday, 13 May 2024 11:03
  • Unique Points
    • Roaring Kitty posted online for the first time in roughly three years.
    • The short position in GameStop shares amounts to more than 24% of all its shares that are freely available to trade.
    • Melvin Capital, a hedge fund heavily shorting GameStop, suffered huge losses due to the actions of individual investors and was backed by Citadel and Point72 with close to $3 billion in support.
    • A class-action lawsuit was filed against Gill alleging he pretended to be a novice trader despite being a licensed professional.
    • Congressional hearings were held regarding brokers’ practices and gamifying retail trading, with testimony from leaders of Robinhood, Melvin Capital, Reddit and Citadel as well as Gill.
    • GameStop hit an all-time high of $120.75 intraday in January 2021 but collapsed along with other meme stocks such as AMC Entertainment Holdings to a three-year low of $9.95.
    • GameStop has started to move higher in May, closing at $17.46 and soaring 57% so far.
    • GameStop reported lower fourth-quarter revenue amid rising competition from e-commerce based competitors and cut an unspecified number of jobs to reduce costs.
  • Accuracy
    • GameStop shares rallied dramatically on Monday after Roaring Kitty, the man who inspired the short squeeze of 2021, posted online for the first time in roughly three years.
    • Roaring Kitty's post has garnered 63,000 likes in 13 hours.
    • GameStop last traded up 68% after soaring as much as 110%.
    • Trading in GameStop was halted multiple times due to volatility.
    • AMC and Reddit also experienced significant price increases on Monday.
  • Deception (30%)
    The article contains selective reporting as it only mentions the increase in GameStop's stock price and the involvement of Roaring Kitty without providing any context about the reasons for this increase or mentioning any potential negative aspects. It also uses emotional manipulation by describing Roaring Kitty's post as 'mark[ing] Roaring Kitty’s first post on the platform [or on Reddit] since 2021.' and 'Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance. Also known as DeepF------Value on Reddit, Gill drew an army of day traders who cheered each other on and piled into the brick-and-mortar video game stock, and GameStop call options.' This language creates a sense of excitement and anticipation that may influence readers to view Roaring Kitty in a positive light.
    • Roaring Kitty drew an army of day traders who cheered each other on and piled into the brick-and-mortar video game stock, and GameStop call options.
    • GameStop shares rallied dramatically on Monday after Roaring Kitty, the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years.
  • Fallacies (85%)
    The article contains several informal fallacies and an appeal to authority. The author uses inflammatory rhetoric when describing the actions of individual investors as an 'army' and 'mania'. They also use loaded language when referring to short sellers as 'pessimistic' and hedge funds as being targeted by an 'army of amateur traders'. Additionally, the author appeals to authority by mentioning congressional hearings and testimony from various individuals. No formal fallacies were found.
    • An army of amateur traders, cheering each other on and piling into the brick-and-mortar video game stock, GameStop and its call options, between 2020 and 2021.
    • The entire episode finally inspired the 2023 movie ‘Dumb Money.’
    • But as interest from individual investors eventually faded, the stock collapsed along with other meme stocks such as AMC Entertainment Holdings.
    • GameStop last month hit a three-year low of $9.95.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Roaring Kitty is back and so are meme stocks, GameStop and AMC surge at the opening bell

Yahoo Finance Associated Press Monday, 13 May 2024 14:52
  • Unique Points
    • Keith Gill, also known as Roaring Kitty, returned to social platform X after a three-year absence and posted content related to GameStop, causing the stock to surge at the opening bell.
    • Roaring Kitty's posts on Reddit subcategory Wallstreetbets ignited a battle between retail investors and hedge funds over GameStop’s stock in 2021.
    • GameStop was a struggling video game retailer in 2021 due to consumers switching from physical discs to digital downloads.
    • Roaring Kitty largely disappeared from messaging boards after posting a video of kittens going to sleep in June 2021.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

GME Stock, AMC Roar Back To Life As Key Player In Meme Rally Returns

Investors.com Investor's Business Monday, 13 May 2024 14:08
  • Unique Points
    • Keith Gill, also known as Roaring Kitty, returned to social media on Sunday night.
    • GME stock soared about 78% early Monday following Gill’s post.
    • NYSE temporarily paused trading on GME stock multiple times due to volatility.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

GameStop's Meme Stock Explodes Again After YouTuber Roaring Kitty Returns

Kotaku Ethan Gach Monday, 13 May 2024 14:30
  • Unique Points
    • Roaring Kitty returned to social media after a three-year hiatus.
  • Accuracy
    • GameStop's stock price jumped over 100% following Roaring Kitty’s return.
    • GameStop reported $1.79 billion in revenue last quarter, down from $2.23 billion the year prior.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication