Crypto Twitter of the Week: Roaring Kitty Shows Her Face and Gets Rewarded

The resurrected story of Keith Gill, also known as Roaring Kitty, is a meme stock influencer last seen in 2021 finally going live after weeks of mysterious, market-changing social media posts that some had doubted. It reached a peak this week as it showed its face on . Him.

It was really him. This event had repercussions across the market, some of which did not work in Gill’s favor.

After reports emerged that Gill may be in trouble with regulators. trading platform for posting a series of cryptic tweets and less cryptic posts on Reddit. quadruple Similar to the price of Gamestop (GME), other meme stocks and related stocks were also pumped. cryptocurrency token— An influencer planned a live broadcast on YouTube on Friday.

As soon as the broadcast started, Twitter exploded, sparking a week’s worth of Crypto Twitter frenzy in a matter of hours. And the sight of Gill for the first time in years was characteristically outrageous, thanks in part to him being bandaged and wearing a sling.

Twitter users were delighted that the mainstream financial press was reluctantly – but breathlessly – covering the stream in light of Gill’s historical content. tremendous influence Better than meme stocks.

During the show, Gill delved into his GME position, which caught the eye of market watchers even before he revealed himself. It was worth hundreds of millions of dollars and growing by leaps and bounds almost every day.

Many have speculated that holding such a position could land the influencer in hot water, given his proven market clout.

This context certainly hung over Gill’s live stream on Friday. In fact, the trader started by asking his more than 700,000 viewers:Should I be careful about what I say here?”

But the most immediate market moves of the day were not caused by Gill or the regulator, but by the companies whose stocks he favored. GameStop released its quarterly earnings report four days early, basically beating out Roaring Kitty for attention. It wasn’t good.

Over the course of Friday, GME plummeted nearly 40%, wiping out about $235 million from Gill’s position.

Some people thought GME would have performed better if Gill had not spoken.

But others were adamant that in some important and subtle ways, Roaring Kitty’s chaotic revival was actually a quiet success.

Edited by Ryan Ozawa.