The so-called “meme stock” GameStop experienced a significant drop as financial influencer “Roaring Kitty” hosted his first live stream in three years, marking a return since the last meme stock craze. Keith Gill, known for his X and YouTube accounts, as well as his Reddit posts under the username “Deep——-Value,” has a large following among investors.
Gill is recognized for sparking the meme stock trend in 2021. His recent live stream attracted half a million viewers, showcasing his influence in the financial community.
GameStop closed on Wall Street Friday with a nearly 40% decrease, trading at over $28 per share, marking an $18 drop for the day. This demonstrated the impact one individual can have on the stock market through their online presence and engagement with social media users.
ELON MUSK, TWITTER AND TESLA STOCK
Last year, data sciences student Affan Bin Hasan from Cardiff University in the UK published research findings on the influence of billionaire Elon Musk and his Twitter posts on the stock price of Tesla. Hasan found a direct connection between Musk’s tweets and Tesla’s stock price.
Musk settled with securities regulators after facing allegations of misleading investors with a 2018 tweet regarding taking Tesla private.
KEITH GILL’S INFLUENCE
Keith Gill, at 37 years old, has testified before Congress about his influence in the financial market. In 2021, he was among the individuals questioned about short-selling by the House Financial Services Committee.
Gill inspired the film “Dumb Money” and recently made a return to social media finance with a post on X, indicating his reentry into day trading.
