The post Roaring Kitty Returns: GameStop Stock, GME Meme Coin Spike on Cryptic Post appeared on BitcoinEthereumNews.com.

Keith Gill, the meme stock influencer better known online as Roaring Kitty, is back at it again—swapping memes from an animated movie for one based on a famed magazine cover. On Thursday, Gill’s first social media post in three months moved markets instantaneously, sending GameStop’s stock price higher as meme coins modeled on the video game retailer with a cult-like following took flight too. Gill, whose cryptic social media activity sparked a rally in GameStop shares earlier this year, posted an altered version of a photo-illustration created by Arthur Hochstein for Time Magazine on X (formerly known as Twitter). In 2006, the publication selected “You” as its Person of the Year, paying homage to YouTube’s aesthetic with its cover, while discussing the revolutionary aspects of the internet’s growing popularity and cultural impact in its whimsically worded article. “It’s a story about community and collaboration on a scale never seen before,” an excerpt of the article read regarding 2006. “It’s about the cosmic compendium of knowledge Wikipedia and the million-channel people’s network YouTube and the online metropolis MySpace.” However, the image posted by Gill was not a carbon copy of the magazine’s original cover: “You” and other text had been removed, while the time duration shown on the photo-illustration’s mirror-like monitor showed “01:09/04:20” in the version that Gill posted (aka the meme numbers 69 and 420). As of this writing, GameStop shares are trading hands at $28.93, rising 7% over the past day. While the stock’s price was down 5% over the past week, it has jumped 26% over the past month. Amid an initial lurch and spike to a daily peak of nearly $31, the stock’s trading was temporarily halted, according to Nasdaq Trader. Within the crypto world, a Solana-based meme coin borrowing GameStop’s ticker name jumped 72% in price…

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Filed under: News - @ December 6, 2024 10:18 pm