GameStop, AMC stocks rise as 'Roaring Kitty' makes first social-media post in 2 months

By James Rogers

Influential trader Keith Gill, also known as "Roaring Kitty," made his first post on X since June

Influential trader Keith Gill, also known as "Roaring Kitty," made his first social-media post in two months on Friday.

In the post on X, formerly Twitter, Gill posted a still from the movie "Toy Story 2" in which Woody is dropped by Andy. The same cryptic dog image that was used in Gill's last post on June 27 is superimposed over Woody's face.

The still comes from a nightmare sequence in the 1999 animated film. The image has become a meme dubbed "I don't want to play with you anymore" in recent years, and has been used to illustrate mass abandonment of video games, according to website Know Your Meme.

Related: GameStop faces 'near insurmountable barrier' in its return to growth, says Wedbush

Gill's June 27 post prompted speculation that it could be a reference to the online pet-products retailer Chewy Inc. (CHWY), prompting that company's stock to briefly surge. It was subsequently revealed that Gill was holding a significant position in Chewy. Shares of Chewy ended Friday's session up 0.1%. The S&P 500 index SPX was down 1.7%.

As with his other posts on the platform, Gill's latest post on X is prompting plenty of chatter about its meaning.

"Back to gme?" wrote @gavinmayreal on X.

"Is he hinting that he sold chwy, it seems?" wrote @MauroM144 on X.

"Picking up where he left off," wrote Stocktwits, a social platform for investors and traders, on X.

Related: Why Roaring Kitty is a GameStop 'true believer'

Earlier this year, Gill's return to social media sent shares of original meme stocks GameStop Corp. (GME) and AMC Entertainment Holdings Inc. (AMC) skyrocketing. Both stocks featured prominently in the 2021 meme-stock frenzy, in which Gill was an influential figure.

In June, a Reddit post from an account associated with Gill appeared to show him holding a big stake in GameStop. On June 7, Gill hosted his first YouTube livestream in three years, an event that attracted widespread attention. Gill used the livestream to discuss what he described as an "overemphasis" on GameStop's legacy business.

"They are in the transformation stage," he said, before saying of GameStop Chief Executive Ryan Cohen: "I believe this guy - he might be able to do it."

Riding the Roaring Kitty roller coaster: Why GameStop and AMC meme madness is an 'outlier event'

The GameStop Chief Executive is the former CEO and co-founder of Chewy. Shares of GameStop, which reports second-quarter results after market close on Sept. 10, ended Friday's session up 6.8% - registering their biggest gain since Aug. 30, when they rose 8.9%. AMC shares were up 5.3% for their biggest gain since Aug. 8, when they rose 5.4%.

Gordon Gottsegen contributed.

-James Rogers

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

09-06-24 1714ET

Copyright (c) 2024 Dow Jones & Company, Inc.