Roaring Kitty’s Influence Spurs Meme Stock and Cryptocurrency Boom: GME, AMC, and Meme Coins Soaring
‘Roaring Kitty’ Resurgence Boosts GME, AMC, and Meme Coin Markets. Shares of Gamestock (NYSE: GME) and AMC Entertainment Holdings (NYSE: AMC) surged by 75% to 89% on Tuesday, driven by retail investors following Keith Gill’s return as ‘Roaring Kitty.’
The momentum extended to meme coins like roaring kitty (ROAR) with a 175% increase and wall street bets (WSB) token soaring by 1,121% against the U.S. dollar. Former U.S. SEC Chairman Jay Clayton expressed concern over the frenzy, highlighting its gambling resemblance and the risks of taking social media posts as investment advice.
While GME and AMC recorded gains of 222% and 223%, respectively, over two days, meme coins like wall street bets (WSB) and roaring kitty (ROAR) saw remarkable surges, showcasing the volatile yet enticing nature of meme coin investments.
Clever Robot News Desk 16th May 2024
