Keith Gill — also known as "Roaring Kitty" — has become a hero of the people, but he is also a menace to stable markets.

The return of Roaring Kitty, aka Keith Gill, has certainly been entertaining for many, but the extreme volatility and questionable trading behavior it has prompted in the stock market are causes for concern rather than celebration.

Gill's reappearance on May 13 coincided with a massive surge in GameStop's stock price, followed by a subsequent announcement of a stock sale by the company, causing a significant drop in the stock price. His livestream on June 6 further fueled volatility, resulting in another spike in GameStop's stock price, followed by a sharp decline after the release of quarterly results.

The gamification of the stock market, fueled by social media influencers like Gill, raises serious questions and has drawn scrutiny from regulatory authorities. The Massachusetts Secretary of State's Office has announced an investigation into Gill's GameStop trades, particularly those coinciding with price volatility induced by his activity.

While meme coins in the cryptocurrency market may experience daily fluctuations without significant consequences, similar behavior in traditional finance is often labeled as market manipulation, insider trading, or fraud. The disruptive impact of such activity on stock markets, as evidenced by repeated trading halts on the NYSE, is a cause for concern.

The rise of YouTube influencers and social media personalities influencing stock market behavior reflects a worrying trend, reminiscent of the speculative frenzy seen in the cryptocurrency market. While some may view it as democratizing finance, others see it as a destabilizing force with potential negative repercussions for investors and market stability.

In summary, while the antics of Roaring Kitty may be entertaining for some, they highlight broader concerns about the intersection of social media, finance, and market stability, prompting regulatory scrutiny and raising questions about the future of trading practices.n