Global #GameStop

GameStop Corp. (GME), the video game retailer turned meme stock phenomenon, experienced a remarkable 24% surge in its share price today, surpassing popular memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) in market capitalization. The unexpected rally has sparked speculation about the possible influence of "Roaring Kitty," the Reddit investor who played a pivotal role in GME's meteoric rise in early 2021.

The "meme stock" sector is experiencing a brutal sell-off, with GameStop (GME) at the epicenter of the carnage. GME's share price has plunged a staggering 60% in just two days, wiping out a significant portion of the gains seen during a recent rally.

Keith Gill, also known as "Roaring Kitty," has re-emerged in the spotlight, and experts speculate that his impact could stretch beyond the realm of meme stocks to the Exchange-Traded Fund (ETF) market.

The cryptocurrency market experienced a wave of volatility this week, with prices for leading digital assets like Bitcoin and Ethereum taking a tumble. This turbulence coincides with two seemingly unrelated events: the wild swings in GameStop's stock price and the release of a robust US jobs report. Analysts suggest a potential connection between these events.

GameStop (GME) stock experienced a significant 19% surge in overnight trading on Robinhood after Keith Gill, also known as "The Roaring Kitty," made a revelation. Gill, posting under the Reddit account "DeepFuckingValue," disclosed his holdings of GME shares and call options, with a notional value exceeding $180 million. This post marked his first activity on Reddit since April 2021.

Robinhood, the widely-used trading platform, is on the verge of reaching a settlement with investors who sued the company for its decision to halt trading on certain meme stocks, including GameStop, in 2021.