TLDR
- GameStop (GME) stock rose 10.02% to $30.86 after Roaring Kitty cleared his X bio and unpinned tweets
- Keith Gill’s social media activity continues to influence retail investor behavior despite no company-specific news
- GameStop plans to raise over $1 billion to purchase Bitcoin as a reserve asset strategy
- The stock has recorded over 50 moves with daily closes above 5% in the past year
- Memecoins are losing volatility as investors focus more on utility rather than hype
GameStop stock closed 10.02% higher at $30.86 on May 22. The video game retailer added another 22 cents in after-hours trading.
The rally came without any company-specific news announcements. Instead, investors focused on social media activity from Keith Gill, known as Roaring Kitty.
Gill cleared his bio and unpinned his tweet on X (formerly Twitter). This simple action sparked buying interest among retail investors.
Ladies and Gentlemen…@TheRoaringKitty has removed his bio and unpinned his tweet$GME pic.twitter.com/wgMqKo5vU4
— Nick (@PandaOptions) May 22, 2025
The move marks Roaring Kitty’s return to social media after a period of silence. Gill became famous during the 2021 GameStop short squeeze campaign.
During that campaign, retail investors targeted Wall Street firms betting against GameStop. Gill was at the center of this movement.
Many retail investors now view any action from Keith Gill as a signal to buy the stock. His influence on GameStop’s price remains strong three years later.
Bitcoin Strategy in Development
GameStop is working on a plan to add Bitcoin to its balance sheet. The company wants to raise over $1 billion to purchase the cryptocurrency.
This strategy would make GameStop a reserve asset holder like other public companies. Several Wall Street firms have seen stock growth after adopting Bitcoin.
The Bitcoin pivot could provide GameStop with another growth driver. It would diversify the company beyond its core retail gaming business.
If implemented, this strategy may attract different types of investors. Bitcoin exposure could appeal to cryptocurrency enthusiasts and institutional buyers.
Stock Volatility Continues
GameStop remains one of the most volatile stocks in the market. Over the past year, the stock has recorded at least 50 moves with daily closes above 5%.
This volatility pattern has continued since the 2021 short squeeze events. The stock regularly experiences double-digit percentage moves.
The company’s shares often move without clear fundamental reasons. Social media activity and retail investor sentiment drive much of the price action.
GameStop’s volatility makes it similar to cryptocurrency memecoins. Both asset classes experience rapid price swings based on online communities.
However, memecoins are becoming less volatile as investors focus on utility. Asset managers have filed ETF applications to track some memecoins.
The SEC recently delayed its decision on Grayscale’s Dogecoin ETF application. This shows institutional interest in previously speculative assets.
GameStop’s planned Bitcoin strategy could add utility to its business model. This may provide more fundamental reasons for future price movements.
The stock’s connection to Roaring Kitty remains strong despite the time gap since 2021. Gill’s social media presence continues to influence investor behavior.
Keith Gill has not posted any new content explaining his recent bio changes. Investors are left to interpret his actions without direct communication.
The gaming retailer’s stock performance outpaced major market indices on May 22. The S&P 500 and Nasdaq Composite both posted smaller gains.
Read More
Maisie Morrison