GameStop shares rose about 50% on Thursday after heavyweight meme investor Keith Gill, known as “Roaring Kitty,” suggested he would return to public live streaming for the first time in nearly four years.
a Featured on “Roaring Kitty” YouTube page The livestream is scheduled for Friday at 12 p.m. ET, and in a sign of the channel’s popularity, more than 13,000 viewers were already waiting in the live chat on the video feed by Thursday afternoon.
Gill used the platform to detail the reasoning behind his infamous bet on GameStop, which helped spark 2021’s so-called “meme stock rally” as retail investors tried to squeeze institutional investors who had bet against the company.
GameStop shares rose 47% to close at $46.55. The stock is now up 165% since the beginning of the year.
Gill hasn’t said what he’ll say in the stream, but investors will be anxiously awaiting answers about the details of his mysterious return and his latest bet on the company.
“Roaring Kitty” sparked new enthusiasm among retail investors last month when she began posting a series of memes on her long-dormant X account. The memes sparked speculation that Gill might be making a comeback after not posting anything online for several years.
GameStop, cinema chain AMC and other so-called meme stocks soared after Mr. Gill’s return, but the rally has since fizzled.
The confusion intensified this week when Gill posted screenshots showing that his E*Trade portfolio included 5 million shares of GameStop common stock and 120,000 call options. CNBC.
E*Trade is considering banning Gill from its platform due to internal concerns about possible market manipulation. The Wall Street Journal The story was reported as coming from a person familiar with the matter.
Executives at the platform are said to be considering whether it’s worth removing Gill and risking angering his huge online following. So far, no decision has been made.
