GameStop’s Stock Plunge Stresses Roaring Kitty

GameStop, the company that catapulted Keith Gill, better known as Roaring Kitty, into internet fame, has made a significant move that could dilute its shares. The video game retailer has filed to sell up to 45 million shares, potentially increasing its total shares by as much as 15%. Following the announcement, GameStop’s stock price plummeted by 26%, settling at a mere 20% above last week’s closing price.

This dramatic drop has visibly affected Roaring Kitty, the trader famous for sparking the 2021 surge in GME’s share price. Reacting to the news, he posted a meme featuring Ben Affleck in distress outside a GameStop store, symbolizing his own dismay. Throughout the week, Roaring Kitty shared various film and TV clips on Twitter, indicating a shift in his emotional state.

Among these posts was a GIF of James MacAvoy from “Split,” with teary eyes, perhaps reflecting his feelings as he watched his GME profits vanish. This was soon followed by an edited clip from the TV show “Succession,” humorously captioned to portray Roaring Kitty as the villain.

Despite being labeled a villain by mainstream financial analysts and accused of market manipulation, Roaring Kitty continues to engage his followers. GameStop’s recent filing acknowledged the impact of social media on stock price fluctuations but did not directly blame him.

In a poignant post, Roaring Kitty shared a clip from “The Steve Wilkos Show,” likening his situation to that of a woman staying with an abusive partner, metaphorically urging his followers to remain with GME. He ended his series of posts with a meme that revealed his emotional turmoil, with tears streaming down his face.

The events of this week have nearly wiped out recent gains, leaving the future of the meme stock phenomenon uncertain. Roaring Kitty’s recent social media activity reflects his distress over GameStop’s decisions, highlighting his continued influence and the volatile nature of meme stocks.