- Keith Gill’s social media post featuring a modified Time Magazine cover caused GameStop stock to rise 7% in 24 hours.
- Trading of GameStop shares was temporarily halted after reaching a daily peak of $31.
- A Solana-based meme coin with GameStop’s ticker symbol increased 72% within three minutes.
- Gill’s Reddit portfolio update from six months ago showed holdings worth $268 million.
- The SEC and Massachusetts securities regulators are investigating Gill’s recent online activities.
Meme stock influencer Keith Gill, known as Roaring Kitty, triggered market movements Thursday with his first social media post in three months, sending GameStop shares higher and sparking rallies in related cryptocurrency tokens.
The post, which appeared on X (formerly Twitter), featured an altered version of Time Magazine’s 2006 Person of the Year cover. Gill modified the image by removing the “You” text and adjusting the time display to show “01:09/04:20” – numbers commonly associated with internet meme culture.
Market Impact and Trading Activity
GameStop shares reached $28.93, marking a 7% increase over 24 hours. The stock experienced volatile trading:
- 26% increase over the past month
- Daily peak near $31, triggering a temporary trading halt
- 5% decline over the previous week
In the cryptocurrency sector, a Solana-based meme coin using GameStop’s ticker symbol saw dramatic price action. According to DEX Screener, the token:
- Surged 72% to $0.0089 in three minutes
- Settled at $0.0067, maintaining a 30% daily gain
Investment Position and Regulatory Scrutiny
Gill’s most recent Reddit update revealed GameStop holdings and cash valued at $268 million. His June positions, which included options, peaked at $586 million. The Securities and Exchange Commission and Massachusetts securities regulators have launched investigations into his recent online behavior.
Gill’s influence on market movements remains significant. His April social media return pushed GameStop shares to $48.75, while his brief streaming appearance in June corresponded with a rise to $46.55.
The stock has since declined to current levels, demonstrating the persistent impact of social media activity on market dynamics.
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