Key Takeaways
- Roaring Kitty was the catalyst that drove GameStop's stock to surge in 2020
- People estimate his stocks were valued between $34 million and $250 million USD
- Roaring Kitty returned to social media in 2024 and with it a slight surge in meme stocks
- Until now, no one knows where Roaring Kitty is and whether he will make a full comeback
Introduction
If you had followed the GameStop saga, where Main Street took on Wall Street in an incredible surge in the price of meme stocks, you would know the importance of Roaring Kitty. From the Saga, what happened to Roaring Kitty and will he make a return?
Who is Roaring Kitty?
Roaring Kitty is Keith Gill, from the USA. Keith rose to fame for acting as the catalyst that led to the surge in GameStop's stock price. He believed GameStop's stock was severely undervalued and spread his suggestion across social media. This caught the attention of online trading communities and led to the stock surging in late 2020.
Where is Roaring Kitty now?
The GameStop sage sparked the attention of the US Congress, when the stock started to lose institutions billions of dollars and toward the end, led to many retail investors also losing money. This led to a class action lawsuit against Roaring Kitty, which was later dismissed. Thereafter, he dropped out of public life and left social media behind.
How much did Roaring Kitty make?
No one is entirely sure, as Roaring Kitty's stock price was continually changing. Estimates of Roaring Kitty's portfolio were between $34 million and $250 million USD. It is still unknown how much of this Roaring Kitty liquidated and if he still owns any GameStop stocks today.
When will Roaring Kitty return?
You are likely speculating that upon Roaring Kitty's return, there will be a surge in meme stocks. This is not wrong. In May of 2024, Roaring Kitty returned to social media leading to a surge in GameStop stock rising by 109.8% compared to the previous month.
Unfortunately, the stock dropped back to its original price range. As of the end of 2024, the stock was up overall by about 90%. This was all sparked by Roaring Kitty, meaning Keith still has a substantial amount of influence over the industry.
In September of 2024, Roaring Kitty posted a cryptic image on X (formally known as Twitter) that led to many speculating he would be making a full return. This sparked a steady increase in GameStop's stock price since then and is still continuing to grow.
Should I buy GameStop stock?
This is a loaded question because GameStop is a meme stock that is closely tied to social media sentiment. The stock is extremely high risk due to this sentiment. For example, if Roaring Kitty were to denounce this stock, it could plummet in a matter of seconds, causing a loss of your entire investment.
There might be better, less risky stocks for you to invest in through 2025. If you're looking for tools to gain a stronger understanding of what is a good or bad investment based on a company's fundamentals, you can try Intellectia's platform.
Frequently Asked Questions
What are considered meme stocks?
Meme stocks are stocks that are heavily influenced by investor sentiment driven by social media platforms. Most notably, community-driven platforms can have a large impact on a stock price although that stock's financials are in decline.
Is Tesla (TSLA) a meme stock?
No, but, it can be influenced by social media sentiment toward the stock as there are numerous speculators who buy Tesla stock due to social sentiment. Tesla has very strong fundamentals and financials which make it less of a meme stock.
How many shares of GameStop did Roaring Kitty own?
It was revealed that Roaring Kitty, aka, Keith Gill, owned around 9 million shares of GameStop. It is unclear whether he still owns this many shares in the company.
Are meme stocks a good investment?
Meme stock investing is highly risky, and doesn't follow any real logic. Many investors that trade meme stocks usually have very little financial background. If you trade meme stocks don't invest more than you're prepared to lose.
Conclusion
Roaring Kitty had a large impact on the markets and in the world of meme stocks. But, it all came tumbling down and led to class action lawsuits and Congress getting involved. For the question, what happened to Roaring Kitty? We can only assume he is laying low, potentially planning a big return to the meme stock stage.
