Roaring Kitty Sparks Meme Rally With Post of Time’s ‘You’ Cover
- GameStop was briefly halted for volatility after the post
- Image resembles a 2006 Time “Person of the Year” cover
The meme-style rally comes amid rising signs of excess in US financial markets.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Animal spirits in the US equity market rampaged into a handful of meme stocks after a cryptic afternoon X post from Keith Gill, the online persona known as Roaring Kitty who rose to fame in 2021’s meme-stock mania.
Shares of GameStop Corp., one of Gill’s original favorites in the January 2021 meme frenzy, spiked as much as 14%, triggering a volatility halt, before paring most of the gain to end the day up 5.9%. AMC Entertainment, another darling from that era, also erased some of a spike to close 5.9% higher.