GameStop and AMC stocks jumped after Keith Gill's post

Memecoin and stock influencer Keith Gill, known as Roaring Kitty, has sparked notable activity in the stock market following a recent post on X. 

On December 5, Gill shared an altered image from a 2006 Time magazine cover, referencing YouTube. 

This post appears to have influenced traders significantly, leading to a surge in both GameStop and AMC stock prices.

GameStop's shares rose over 16%, reaching a peak of $30.87 during the trading session before volatility halted trading, according to Nasdaq Trader. 

As of now, GameStop shares have decreased to $28.60, reflecting a 6% drop over the past five days.

In addition to GameStop, an unofficial Solana-based memecoin named GME experienced a remarkable increase of 72%, climbing to $0.007672 after Gill's post. 

However, it has since retreated to $0.006488, as reported by CoinGecko.

AMC Entertainment also saw a significant uptick, with shares rising 12% to reach $5.55 during the same trading session. 

Despite this increase, AMC's stock remains substantially lower than its all-time high of $261 recorded on June 18, 2021.

Gill's influence on the market is well-documented; he played a pivotal role in the GameStop short squeeze in January 2021 that drove prices to unprecedented levels.

He testified before Congress regarding his involvement in this event and had been inactive on social media until resurfacing in May after a three-year hiatus.

His previous posts have also led to notable fluctuations in various stocks and cryptocurrencies.

In June 2024, Gill faced a lawsuit alleging he orchestrated a pump-and-dump scheme related to GameStop shares, but the case was dismissed shortly after filing.

Market observers continue to monitor Gill's social media activity closely due to its potential impact on trading dynamics.