GameStop shares saw a significant increase of over 15% after a mysterious message was posted on social media by Keith Gill, also known as "Roaring Kitty." This message featured a Time magazine cover depicting a computer with an old video player, causing trading halts on Robinhood due to increased volatility.
Gill's presence on social media continues to hold significant sway, reminiscent of his role in the GameStop rally of 2021, which resulted in a 10,000% surge in the stock and led to congressional hearings on retail trading practices. These recent trading activities have sparked renewed discussions on market dynamics, particularly in relation to past allegations of manipulation during the 2021 events, when major hedge funds held significant short positions in GameStop.
Additionally, a meme coin based on Solana and inspired by GameStop experienced a remarkable 65% surge in value, highlighting the continued influence of meme culture on both traditional and digital asset markets.