GameStop, AMC Stocks Jump As ‘Roaring Kitty’ Resurfaces On Social Media, Sends Retail Investors Into Frenzy

Shares of GameStop Corp. (GME) and AMC Entertainment Holdings (AMC) jumped over 3% on Friday afternoon as retail investors reacted to a cryptic social media post from finance influencer Keith Gill, famously known as “Roaring Kitty.”

This is Gill’s first online appearance since June, and his return immediately ignited excitement among meme stock enthusiasts.

Gill, who rose to prominence during the GameStop trading frenzy in early 2021, posted an image on X (formerly Twitter), featuring a still from the movie “Toy Story 2” with a dog image superimposed over Woody’s face.

The still is reportedly a popular meme dubbed "I don't want to play with you anymore", sparking speculation about its hidden meaning.

The post triggered a surge in retail sentiment for GME and AMC, which soared into the ‘bullish’ zone on Stocktwits, accompanied by a spike in message volume.

Gill’s last post in June, also featuring the same dog image, had fueled speculation that it was a nod to online pet retailer Chewy Inc. (CHWY), briefly driving its stock higher.

It was later revealed that Gill held a substantial position in Chewy, making his cryptic posts a catalyst for sudden market moves.

GameStop on Friday saw a trading volume of 13.84 million shares, more than double its daily average, while AMC’s volume climbed to 8.16 million shares.

One Stocktwits user encapsulated the frenzy, saying, “$GME the ‘kitty effect’ should be added to economics books. He is a legend.”

Investors are closely watching GameStop ahead of its second-quarter earnings report on Sept. 10.

Wedbush analyst Michael Pachter expects the company to report a modest improvement in profit, driven by increased interest income from recent share offerings that bolstered its cash reserves by about $3 billion.

However, Pachter warns that GameStop faces "a near insurmountable barrier", including the ongoing shift from physical to digital game sales and the company’s lack of a clear strategy to explore new growth avenues.

AMC, meanwhile, has been battling its own set of challenges. Despite reporting a smaller-than-expected loss in the second quarter, the world’s largest theater chain remains burdened by over $4 billion in debt, limiting its ability to navigate a tough operating environment further strained by the 2023 Hollywood strikes.

Gill’s latest post also stirred up online chatter about his potential exit from Chewy, with retail sentiment on Stocktwits turning ‘bearish’ on the stock.

Whether the influencer is signaling a shift back to GME or merely playing with the meme stock community, one thing is clear: the ‘Roaring Kitty’ effect is still very much alive, and it continues to sway the market.

Read next: Coinbase, Robinhood Stocks Upgraded By Barclays On ‘More Sensible’ Valuations Amid Bitcoin Slide: Retail Sentiment Mixed