Roaring Kitty is back and has become the 5th largest shareholder of GameStop.
- Roaring Kitty’s 100k GME holding in 2021 was worth $25.6mn in May.
- Kitty’s (aka DeepF***ingValue) position was worth around $250mn on June 4, 2024.
- Solana memecoin GameStop $GME jumped by 3820% from $0.0005 to $0.0196 from May 12 to 15 alone.
Roaring Kitty played an integral role in the 2021 memestock rise of $GME and AMC which saw short sellers lose hundreds of millions. With his 2024 return, Kitty, recently revealed to be DeepF***ingValue, has recently become the 5th largest shareholder of GME.
Amid his return, Solana-based memecoin $GME surged 300%.
2021 Roaring Kitty GME Timeline
- Oct 2019 — Retail brokers dropped trading commissions following Robinhood, which relies on customer’s buy and sell orders, creating a surge in retail trading.
- July 27, 2020 — Roaring Kitty, aka Keith Gill, made YouTube content on GameStop, posting on Reddit under the name DeepF***ingValue.
- Dec 8, 2020 — GameStop shares tank after missing Wall Street quarterly revenue estimates.
- Jan 13 — $GME shares rise 57% and another 27% the next day.
- Jan 19 — Citron Research, a short seller, tweets about GameStop saying buyers at that level were “suckers at this poker game.”
- Jan 22 — Shares rise an additional 50%.
- Jan 25 — $GME soars an additional 144%. Hedge fund Melvin Capital Management gets $2.75bn from Citadel after losing short bets, including GameStop.
- Jan 26 — Elon Musk joined the action and tweeted “Gamestonk!!” as shares surged another 92.7%.
- Jan 27 — Melvin Capital and Citron close positions at a loss. $GME reached a high of $347.51.
- Jan 28 — Robinhood and other brokerages restrict $GME trading, blocking buys and only allowing sells. The US House Financial Services and Senate Banking committees scheduled a hearing on the stock market.
- Feb 1 — Robinhood raises $2.4bn in capital shortly after raising $1bn.
- Feb 4 — Robinhood removes trading curbs, closing at $63.20%
It’s unknown how much Roaring Kitty made in this rally but in March 2021, he reportedly held 100k in $GME shares worth $25.6mn.
2024 Roaring Kitty GME Timeline
- May 24 — Roaring Kitty suddenly started posting cryptic messages on Twitter, starting another $GME rally.
- May 14, 2024 — $GME halted 38 times as another rally happened.
- June 2, 2024 — Robinhood suspended overnight $GME trading over volatility.
- June 3, 2024 — Multiple stocks worth over $100bn fell by more than 99% due to what was called a “technical glitch.”
- June 4, 2024 — Roaring Kitty’s position is worth over $250mn, making him the 5th largest $GME shareholder.
$GME went up by 300% before dropping 70% and Kitty started buying again in the $20s. Should the stock reach around $70, Kitty’s position would be worth over $1bn.
Crypto Goes Wild Amid $GME Surge
One dedicated memecoin capitalizing on the $GME action is the GameStop $GME token on Solana, which as of Jan 4, 2024, has as market cap of $88m.
From May 12 to 15, $GME rose 3820% from $0.0005 to $0.0196.
