May 16, 2024 - News

📈 Meme stocks soar on Brockton trader's rumored return

a man waves at the camera

Keith Gill, known as Roaring Kitty. Photo Illustration: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Meme stocks briefly roared this week as speculation grew that Keith Gill, aka "Roaring Kitty" and "DeepF---kingValue" of WallStreetBets fame, was getting back in the game.

Why it matters: Brockton native and Stonehill grad Gill helped fuel the meme-stock craze of 2021 by rallying an army of retail traders, who sent shares of battered companies soaring. Then, he mostly went silent.

On Monday, speculation of his return hit the market, and GameStop, the name most closely associated with the trader, jumped more than 70%. Other popular 2021-era meme stocks, like AMC Entertainment, followed suit.

Yes, but: By yesterday, the stocks were in a slump.

Zoom in: The rumors of Gill's return was sparked by a post on X Sunday night that showed a sketch of a man leaning forward in a chair while holding a videogame controller, as if he were re-engaging.

Flashback: The Roaring Kitty character returned to the public in 2023, when the movie "Dumb Money" debuted.

  • The film portrayed the meme stock craze and featured the actor Paul Dano, who played Gill onscreen.
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