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The Journal.

Did ‘Roaring Kitty’ Just Spark a Meme Stock Sequel?

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.25.3K Ratings

🗓️ 20 May 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

Meme stocks took off last week after an unexpected tweet appeared from “Roaring Kitty,” a social media account associated with former financial consultant Keith Gill. He's credited with igniting the meme stock movement in 2021. WSJ’s Jon Sindreu explains the re-emergence of Roaring Kitty and what it means for the meme stock movement. Further Reading: - ‘Roaring Kitty’ Came Out of Hibernation. Is the Meme Stock Craze Bac k? - Is Roaring Kitty the Internet’s Warren Buffett? Further Listening: - To the Moon - Donald Trump’s Meme Stock Moment Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Alan Tran has been into stocks since he was around 10 years old.

0:10.0

I remember the first investment I made. I was watching Jim Kramer on

0:15.0

C. NBC talking about Nokia and I thought that man was a genius at that time so I told my

0:20.9

dad I was just like dad please please go buy some Nokia stock for me and

0:26.4

since then it just welcome to this journey right?

0:30.8

These days Alan is a full-time stock trader and last week something exciting happened.

0:38.0

I was looking at my phone and I saw a notification that Roaring Kitty was back and I was so

0:47.3

confused.

0:48.3

I have not heard that name in like three years and I was like what do you mean roaring kitty is back?

0:55.6

Roaring kitty the pseudonym of a YouTube stock analyst named Keith Gill who's been

1:02.2

credited with starting the meme stock movement.

1:05.7

This movement bubbled up in 2021 when a bunch of investors swapping tips on Reddit drove up the

1:12.1

value of some unexpected stocks and thumb their noses

1:16.0

at the financial establishment. For the first time in three years, Roaring Kitty

1:22.3

had tweeted. The post was a simple drawing of a

1:26.3

person holding a gaming controller and leaning forward in their chair. That was it,

1:31.7

just a picture. Yet what was your reaction? Oh, honestly, I was freaking out. I definitely

1:38.6

did scream some things that I probably should not say here but I was very excited.

1:44.3

This tweet sparked a new market rally of some very specific stocks.

1:50.3

Well what a week it has been. We're talking Game Stop,

1:54.4

AMC, the Meme stock craze, it has a feeling of being back.

1:59.2

Shares of Game Stop soared more than 70% yesterday.

...

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