GameStop has once again found itself at the center of a stock frenzy, reminiscent of the wild ride it experienced in 2021. Driving this resurgence is Keith Gill, also known as “Roaring Kitty” on YouTube and “DeepF—Value” on Reddit, who has a massive following among retail investors.
Gill, a financial analyst turned social media influencer, recently sparked investor interest in GameStop with a cryptic post on social media, leading to a surge in the company’s shares. His ability to move markets has even caught the attention of trading platform E*Trade, which is reportedly considering banning him.
Born in Massachusetts in 1986, Gill has a background in financial services and became known for his online presence, where he advocated for investing in GameStop. Despite facing significant losses at times, Gill’s influence on the stock market has been undeniable.
The meme-stock craze, which included companies like GameStop, AMC, and Blackberry, gained momentum during the pandemic as retail investors banded together to challenge institutional investors. While some saw it as a way to disrupt Wall Street, Gill maintained that his motivation was rooted in his belief that GameStop was undervalued.
As for GameStop itself, the company has faced challenges in recent years due to industry shifts towards digital downloads and streaming. However, with the support of meme-stock investors, GameStop reported its first profit in two years in March 2023. The company has also taken steps to raise capital and adapt to the changing landscape of the gaming industry.
With Gill at the helm of the GameStop frenzy once again, all eyes are on the video game retailer as it navigates the volatile world of meme stocks and retail investor influence.
