{"id":239991,"date":"2024-05-14T09:34:23","date_gmt":"2024-05-14T09:34:23","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=news&#038;p=239991"},"modified":"2024-05-14T09:34:23","modified_gmt":"2024-05-14T09:34:23","slug":"roaring-kitty-sparks-gamestop-and-amc-stock-revival","status":"publish","type":"news","link":"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival","title":{"rendered":"\u2018Roaring Kitty\u2019 Sparks GameStop and AMC Stock Revival"},"content":{"rendered":"<p><strong>The meme stock world is again in the spotlight as Keith Gill, also known as \u2018Roaring Kitty,\u2019 makes a comeback on social media, triggering a remarkable upswing in GameStop and AMC stocks.<\/strong><\/p>\n<p>Gill, who has been off social media for the past three years, surfaced on May 13 with a post on X depicting a man leaning forward in his chair. This meme often used by gamers to indicate a serious situation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/YgjVqtgcNS\" target=\"_blank\">pic.twitter.com\/YgjVqtgcNS<\/a><\/p>\n<p>&mdash; Roaring Kitty (@TheRoaringKitty) <a href=\"https:\/\/twitter.com\/TheRoaringKitty\/status\/1789807772542067105?ref_src=twsrc%5Etfw\" target=\"_blank\">May 13, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This post is believed to have sparked interest in the stock prices of GameStop and AMC, which have been languishing over the years.<\/p>\n<p>After Gills&#8217;s post, May 13 trading saw GameStop\u2019s shares close up 74%, marking the biggest intraday trading jump for the company since the meme stock craze of early 2021. Other <a href=\"https:\/\/www.techopedia.com\/definition\/meme-stock\">meme stocks<\/a>, such as AMC, also experienced a boost.<\/p>\n<figure id=\"attachment_239997\" aria-describedby=\"caption-attachment-239997\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41-300x213.png\" alt=\"GameStop Shares | Source: Google Finance\" width=\"1200\" height=\"852\" class=\"wp-image-239997\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41-300x213.png 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41-1024x727.png 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41-768x545.png 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41-1200x852.png 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.27.41.png 1412w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-239997\" class=\"wp-caption-text\">GameStop Shares | Source: Google Finance<\/figcaption><\/figure>\n<p>As of the latest market update, GameStop\u2019s stock price is $30.45, more than double its opening price on May 13.<\/p>\n<p>AMC\u2019s stock price, on the other hand, increased by 78.35% and was trading at $5.19 at the close of the market.<\/p>\n<figure id=\"attachment_239999\" aria-describedby=\"caption-attachment-239999\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54-300x208.png\" alt=\"AMC Shares | Source: Google Finance\" width=\"1200\" height=\"833\" class=\"wp-image-239999\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54-300x208.png 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54-1024x711.png 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54-768x533.png 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54-1200x833.png 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-14-at-13.28.54.png 1412w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-239999\" class=\"wp-caption-text\">AMC Shares | Source: Google Finance<\/figcaption><\/figure>\n<p>This surge is reminiscent of the \u2018<a href=\"https:\/\/www.techopedia.com\/definition\/short-squeeze\">short squeeze<\/a>\u2019 phenomenon in 2021, when Gill and other retail investors bought GameStop shares, forcing large investors who had bet against the company to buy its rapidly rising stock to mitigate their losses.<\/p>\n<p>In 2021, GameStop was a struggling video game retailer, with its survival threatened by the shift from physical discs to digital downloads. Large hedge funds were shorting its stock, expecting its shares to continue downward. However, the actions of Gill and like-minded investors changed the company\u2019s fate, saving it from a seemingly inevitable bankruptcy.<\/p>\n<p>This recent surge in GameStop and AMC stocks highlights the influence of retail investors and the role of social media in the stock market. The longevity of this surge and its impact on the future of meme stocks remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The meme stock world is again in the spotlight as Keith Gill, also known as \u2018Roaring Kitty,\u2019 makes a comeback on social media, triggering a remarkable upswing in GameStop and AMC stocks. Gill, who has been off social media for the past three years, surfaced on May 13 with a post on X depicting a [&hellip;]<\/p>\n","protected":false},"author":286696,"featured_media":240003,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"news-category":[2225],"class_list":["post-239991","news","type-news","status-publish","format-standard","has-post-thumbnail","hentry","news-category-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Roaring Kitty\u2019 Sparks GameStop and AMC Stock Revival - Techopedia<\/title>\n<meta name=\"description\" content=\"Roaring Kitty&#039;s comeback on social media triggers a remarkable upswing in GameStop and AMC, or so-called meme stocks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Roaring Kitty\u2019 Sparks GameStop and AMC Stock Revival\" \/>\n<meta property=\"og:description\" content=\"Roaring Kitty&#039;s comeback on social media triggers a remarkable upswing in GameStop and AMC, or so-called meme stocks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\" \/>\n<meta property=\"og:site_name\" content=\"Techopedia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/techopedia\/\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/gamestop.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"686\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@techopedia\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\"},\"author\":{\"name\":\"Franklin Okeke\",\"@id\":\"https:\/\/www.techopedia.com\/#\/schema\/person\/cf68e5a8f9bbfc9595ced844b44cd463\"},\"headline\":\"\u2018Roaring Kitty\u2019 Sparks GameStop and AMC Stock Revival\",\"datePublished\":\"2024-05-14T09:34:23+00:00\",\"dateModified\":\"2024-05-14T09:34:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\"},\"wordCount\":342,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.techopedia.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/05\/gamestop.jpeg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.techopedia.com\/#organization\"},\"articleSection\":\"\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\",\"url\":\"https:\/\/www.techopedia.com\/news\/roaring-kitty-sparks-gamestop-and-amc-stock-revival\",\"name\":\"\u2018Roaring Kitty\u2019 Sparks GameStop and AMC Stock Revival - 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