TLDR
- GameStop stock jumped 10.02% to $30.86 on May 22 after Keith Gill (Roaring Kitty) cleared his X bio and unpinned tweets
- The rally occurred without any company-specific news, driven purely by retail investor response to Gill’s social media activity
- GameStop is developing plans to raise over $1 billion to purchase Bitcoin as a reserve asset strategy
- The stock has recorded over 50 moves with daily closes above 5% in the past year, maintaining extreme volatility
- Gill’s influence on GameStop remains strong three years after the 2021 short squeeze campaign
GameStop stock climbed 10.02% to $30.86 on May 22 in a move that caught Wall Street’s attention. The video game retailer added another 22 cents in after-hours trading to $31.08.
The rally came without any company announcements or earnings news. Instead, the price movement traced back to social media activity from Keith Gill.
Gill, known as Roaring Kitty, cleared his bio on X and unpinned his previous tweets. This simple action was enough to spark buying interest among retail investors.
Ladies and Gentlemen…@TheRoaringKitty has removed his bio and unpinned his tweet$GME pic.twitter.com/wgMqKo5vU4
— Nick (@PandaOptions) May 22, 2025
The move marks Gill’s return to social media after months of silence. His last major activity was during the height of the 2021 meme stock frenzy.
During that period, Gill became the face of a retail investor movement. He helped coordinate buying pressure against Wall Street firms shorting GameStop.
Three years later, his influence hasn’t faded. Many retail investors still view any Gill activity as a buy signal for GameStop shares.
The stock’s reaction shows how deeply connected it remains to social media sentiment. Price movements often happen without traditional fundamental catalysts.
Bitcoin Strategy Takes Shape
GameStop is working on plans to add Bitcoin to its corporate treasury. The company wants to raise over $1 billion to purchase the cryptocurrency as a reserve asset.
This strategy would follow the playbook of other public companies. Firms like Tesla and MicroStrategy have seen stock benefits from Bitcoin holdings.
The Bitcoin pivot could provide GameStop with a new growth narrative. It would diversify the business beyond its struggling retail gaming operations.
If implemented, the strategy may attract cryptocurrency investors to GameStop stock. Bitcoin exposure could broaden the company’s investor base beyond meme stock traders.
Several Wall Street firms have filed applications for memecoin ETFs recently. This shows growing institutional interest in previously speculative digital assets.
The SEC delayed its decision on Grayscale’s Dogecoin ETF application. These developments suggest mainstream acceptance of cryptocurrency investments is growing.
Volatility Remains Extreme
GameStop continues to rank among the market’s most volatile stocks. Over the past year, it has recorded at least 50 moves with daily closes above 5%.
This pattern started during the 2021 short squeeze and never stopped. The stock regularly posts double-digit percentage moves in single trading sessions.
Most of these movements happen without clear fundamental reasons. Social media chatter and retail sentiment drive the majority of price action.
The company’s trading behavior resembles cryptocurrency memecoins more than traditional stocks. Both asset classes experience rapid swings based on online community activity.
However, memecoins are becoming less volatile as investors seek utility over pure speculation. This trend may eventually reach GameStop as well.
The planned Bitcoin strategy could add fundamental value to GameStop’s business model. This might provide more logical reasons for future price movements beyond social media influence.
Keith Gill has not posted any new content explaining his recent bio changes. Investors must interpret his actions without direct communication from the influential trader.
GameStop’s performance outpaced major market indices on May 22. The S&P 500 and Nasdaq Composite both posted smaller gains than the gaming retailer’s 10% jump.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
