GameStop Corp. shares experienced a dramatic swing on Monday after brief activity on the X account associated with Keith Gill, known online as Roaring Kitty, sent the stock surging before a sharp reversal erased gains. The posts, which referenced a Solana-based meme coin, vanished within an hour, leaving traders questioning whether the account had been compromised.
According to Bloomberg, GameStop shares jumped as much as 13% to $25.94 before retreating to $23.17 by the close of extended trading. The volatility highlighted the enduring influence of Gill, whose previous posts have triggered massive rallies in meme stocks like GameStop and AMC Entertainment. AMC shares slipped to $1.41 during the session.
The posts, which included a photo of a cat and an image of Pepe the Frog wearing Gill's signature red bandanna, were deleted around 5:40 p.m. New York time. One post contained a Solana Pump.fun token address, a platform that allows users to quickly create low-profile crypto tokens with minimal track record. This sparked immediate speculation that the account had been hacked, with some social media users alleging a potential rug pull.
Market researcher Jake Wujastyk told BeInCrypto that he did not believe the account was compromised, describing the post as part of the plan. However, Gill has not commented on the incident, leaving traders in suspense. Confirmation that Gill controlled the account could reignite speculation, while a compromise could lead to a collapse in the associated token and attract regulatory scrutiny.
BeInCrypto reported that the token, Red Kitten Crew (RKC), briefly reached a market capitalization of $5.97 million before settling closer to $4 million, with 24-hour trading volume of $2.55 million. The incident underscores the volatile intersection of meme stocks and crypto markets, where retail trader enthusiasm can drive rapid price moves.
GameStop has evolved significantly since the 2021 meme-stock frenzy. As of January 31, the company reported $9.0 billion in cash, cash equivalents, and marketable securities. Net income for fiscal 2025 was $418.4 million, though annual net sales declined to $3.63 billion from $3.82 billion a year earlier. The company has also expanded beyond videogames, with collectibles accounting for 29% of sales in fiscal 2025, and closed 727 U.S. locations as part of a store fleet review.
Gill resurfaced on X in May after a three-year hiatus, sending GameStop shares surging nearly 75% in a single day. Monday's events were more muted but equally chaotic, demonstrating that his account remains a powerful force in both equity and crypto markets.
