June 7th 2024.
Keith Gill, also known by his online persona Roaring Kitty, has made a comeback into the world of stock trading. As many may remember, Gill played a major role in the notorious GameStop short squeeze that took over the internet back in 2021. This time around, his return has once again caused stock prices to surge.
For those who may not be familiar with the GameStop short squeeze, it all started when a group of investors on the r/wallstreetbets subreddit banded together to drive up the stock prices of GameStop. This caused a frenzy in the stock market as the company's stocks reached unprecedented levels. And at the forefront of this surge was none other than Keith Gill, or as he is known online, Roaring Kitty. In fact, Gill's involvement was so significant that he was even portrayed by actor Paul Dano in the 2023 film Dumb Money, which was based on these very events.
Recently, GameStop's stock prices have been on the rise once again. This surge can be attributed to Gill, who on May 17, shared several memes related to the US games retailer. And as reported by Reuters, the rise became even more rapid after Gill announced his return to YouTube on June 7, after a three-year hiatus. This news caused GameStop's shares to surge by nearly 50% on Thursday, with an additional 21% increase on Monday when Gill revealed that he had bought $116 million worth of stock.
Gill's return to YouTube was met with much anticipation and excitement, as demonstrated by the over 600,000 viewers who tuned in to watch him. In his video, he joked around, covered in plasters, with the GameStop stock price displayed in the background. It's safe to say that his fans were thrilled to have him back.
It's worth noting that back in January 2021, during the short squeeze, GameStop's share price had skyrocketed to a record high of $483 per share. This had a significant impact on hedge funds that had bet against the gaming retailer, causing them to suffer major losses. As for Gill, despite receiving criticism for his role in the saga, he disappeared from the public eye with a substantial sum of wealth. In fact, it's estimated that his GameStop investment at one point reached a value of $48 million.
Since his return, the stock prices have been fluctuating, with ups and downs, as Gill continues to actively participate in the market. It's expected that the market will remain volatile as long as he is involved.
If you're interested in keeping up with Gill's updates and insights, you can follow him on various platforms such as email, Twitter, or by signing up for his newsletter. Additionally, you can also submit your own letters and features through the Submit Stuff page on his website.
In other news, there have been rumors circulating about a possible Hollow Knight and Silksong crossover game being announced at the Xbox Games Showcase, according to a reliable leaker. Another insider has also claimed that a Lego Horizon crossover game may be revealed at the Summer Game Fest. And for all you mobile gamers out there, here's a round-up of the best new games on iOS and Android for June 2024.
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