GameStop Stock Soars 47% as ‘Roaring Kitty’ Announces Live Stream

GameStop (GME) stock rose 47% on Thursday after a YouTube account believed to be linked to investor Keith Gill, also known as “Roaring Kitty” on social media, posted a live broadcast scheduled for Friday at noon ET.

This would be the first live appearance on the channel since Gill helped spark the meme stock rally in 2021 via bullish videos and posts about the video game retailer.

“The Roaring Kitty channel and live streams are for educational and entertainment purposes only. I am not providing personal investment advice or stock recommendations during the stream,” the YouTube account’s description reads.

The channel has around 706,000 subscribers.

GameStop shares have been on a roller coaster ride over the past month as Gill, also known as DeepFing Value on Reddit, re-emerged on social media.

On Monday, shares jumped 21% after an account also linked to Gill posted a screenshot on Reddit that purported to show a holding of nearly $175 million in GameStop stock and call options.

The following session, the stock fell 5%. THE The Wall Street Journal reported that Executives at JPMorgan’s (JPM) E*Trade platform were considering launching the account linked to the screenshot.

“Is whoever controls this account doing this in your best interest or their best interest? And, really, you should think about that because, to me, that [is] It’s pretty obvious who the interest is,” Steve Sosnick, chief strategist at Interactive Brokers, told Yahoo Finance earlier this week.

“If you are chasing stocks here, you are more than likely the source of liquidity allowing whoever controls this account to sell according to your enthusiasm.”

GameStop rose 180% in two days in mid-May after ‘Roaring Kitty’ posted for the first time on X, formerly Twitter, since 2021.

Last month’s rally was short-lived and analysts warned that the meme stock this time around was a far cry from the level of retail inflows seen in 2021.

More than three years ago, Gill, along with the CEOs of Robinhood (HOOD), Citadel, Reddit (RDDT), and Melvin Capital, all appeared as part of a congressional committee investigation into Wild overdraft of GameStop shares by retail investors. price.

In his testimony before the House Financial Services Committee, Gill explained why he invested in the struggling video game retailer.

GameStop investor Keith Gill, also known on social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington in 2021. (House Financial Services Committee via AP, File) (ASSOCIATED PRESS)

Ines Ferre is a senior economics reporter for Yahoo Finance. Follow her on @ines_ferre.

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