The post Who Is Roaring Kitty and What Inspires The Meme Coin Drive? appeared on BitcoinEthereumNews.com.

The famous Roaring Kitty who drove up the stock prices of video game retailer, GameStop (GME) has returned to social media spaces igniting yet another rally in related stocks and meme coins. What was his rise to fame, early investments, the GameStop saga, and potential return? Who Is Roaring Kitty? Roaring Kitty, revealed as Keith Gill is a financial analyst who shared his methods of investing on X (formerly Twitter), YouTube, and Reddit. Gill was born in 1986 with a knack for sports in his early years. After graduation, he worked at a software company that provided a program for stock analysis before taking up a role at MassMutual.  Between 2014 to 2020, Roaring Kitty as popularly called posed videos and live streams of his formula for tracking stocks for educational purposes only. Keith Gill and GameStop According to him, GameStop stocks were highly undervalued despite ridicule from several analysts. In 2019, he shared a $53,000 investment in the company and was mocked by some social users. Unfazed, he doubled down on the idea explaining why it was undervalued during the pandemic.  Fortunes changed after low rates led to investors with more funds and lower consumer spending. Online trades soon geared up going bullish on end assets for several reasons including to spite larger hedge funds and to back the company. This spawns a whole community around Reddit and YouTube. GME spiked to $347 per share on Jan 27 2021 from $4.56 on Jan 4 leading to a panic from hedge funds who previously took short positions. At the peak, GME hit $483 before making a sharp correction to $193. Trading platform Robinhood also announced certain restrictions on the asset as a result of the aftermath of the frenzy. How Was He Unraveled?  Known on social media spaces as Roaring…

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Filed under: News - @ June 13, 2024 7:14 pm