Retail darling GameStop found itself back in the spotlight this week, fueled by a surprise move from a familiar face: Keith Gill, aka Roaring Kitty. His return to the online battlefield sent the meme stock skyward, leaving Robinhood scrambling to control the chaos.

Following Gill's first Reddit post in months, where he hinted at a massive $175 million bet on GameStop, the stock price surged nearly 20% in a mere 20 minutes during Robinhood's extended trading hours. This rapid ascent seemed to spook the platform, leading them to implement buying restrictions on GME.

According to Robinhood, overnight trades through Blue Ocean ATS, their platform for facilitating extended-hour deals, were limited to a 20% range around a reference price. This effectively prevented users from buying above a certain threshold, potentially dampening the momentum.

However, reports surfaced that some Robinhood users were completely blocked from buying GME overnight, raising questions about the platform's motives.

Gill's return wasn't just about cryptic Reddit posts. A screenshot accompanying his message indicated a hefty 5 million share purchase and a significant investment in call options, signifying a bullish long-term bet on GameStop.

This move, coupled with his previous role in the epic 2021 GameStop short squeeze, reignited the flame of retail investor passion. The green UNO reverse card meme he shared on another social media platform, a signature style of his, further fueled the speculation.

The impact transcended GameStop itself. Ethereum-based meme coins, particularly those tied to GME, experienced renewed interest, suggesting a potential resurgence of the meme-stock phenomenon.

Robinhood's attempt to control the narrative with buying restrictions may backfire. With Roaring Kitty back in the game and retail investors energized, the battle for GameStop's future is far from over. Will this be another epic saga for the meme stock, or will Robinhood's intervention succeed in taming the wild card? Only time will tell.