(Bloomberg) — Keith Gill, whose online nickname Roaring Kitty sent GameStop Corp. shares soaring. last week sparked a new rally at the video game retailer after a YouTube post announced it would return to the platform on Friday for the first time. time in three years.
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GameStop shares jumped 41% to $44.41 as of 1:45 p.m. in New York, triggering a halt in volatility. The stock is up nearly 60% in two days and has more than doubled since Gill tweeted a cryptic meme on May 12.
Although Gill’s YouTube post contained no information on what the investor planned to discuss or disclose, his expected return has sparked further speculation that Gill is bullish on GameStop. The post says its live stream will begin at noon New York time.
Details of the scheduled broadcast also included a disclaimer that did not appear in its previous live broadcasts. The disclaimer, which says it will be shown at the start of the stream, was covered in legalese that the video was opinion-based and included a disclaimer that past performance is no guarantee of future results.
“This YouTube channel is under no obligation to update or correct any information provided in these videos,” the disclaimer states. “Statements and opinions are subject to change without notice. No compensation is received by this YouTube channel for the opinions expressed.
Within minutes of the post going live, more than 10,000 YouTube users expressed interest in being notified when the stream started. The video’s live chat had hundreds of comments.
Following the update, the company’s ticker was trending on popular chat room StockTwits as well as Reddit’s WallStreetBets forum.
Earlier this week, Gill, who became an icon for retail traders cooped up during the height of the pandemic, shared a screenshot that appeared to show he had a $116 million position in GameStop. Such a large position would make Gill one of the company’s five largest investors and represents more than six times the number of shares his account showed in an April 2021 article, the last time he was active on Reddit, while it represented a four-for-a stock split.
Gill, known by his X and YouTube handle Roaring Kitty as well as his DeepF—-ingValue handle on Reddit Inc., profited handsomely from his investment in the beleaguered video game retailer through 2020 and 2021.
His social media activity, starting with a May 12 post with an image of a video gamer leaning toward him, fueled anticipation of a quick return to the market and caused shares to more than triple in A few days. The Reddit post less than a month later sent even higher shares, with Gill also posting an image of a reversed card from the UNO game that indicates a player changes the card’s pickup direction.
The headline’s reaction to Gill’s social media accounts sparked debate over whether he violated any securities regulations. Brokerage E*Trade plans to remove Gill from its platform over…
