Shares of GameStop Corp. kept going up Thursday and ended the day up 47.5% after news came out that famous trader Keith Gill, also known as Roaring Kitty, will host his first YouTube livestream in three years.
The livestream is set to start at noon on Friday in Eastern time. Over 1.1 million people have watched Gill’s most recent livestream on YouTube, which happened on April 16, 2021. There are 714,000 YouTube subscribers to Roaring Kitty, who is a big deal in the 2021 meme-stock craze.
People on social media had a lot to say about Friday’s livestream. Today, June 7, at noon ET, @TheRoaringKitty has scheduled his first livestream since 2021. This was written by Dave Lauer, CEO of Urvin Finance, a social platform for investors, on X, which used to be Twitter. “Stand up!”
Stocktwits, a social network for traders and investors, wrote on X, “Let the countdown begin…”
“Oh.” “Oh my goodness,” wrote @amitisinvesting on X. They also saw that GameStop’s share price went up.
Since Gill came back to social media last month, meme stocks have been going up. Shares of GameStop GME, +47.45%, AMC Entertainment Holdings Inc. AMC, +12.43%, and other stocks have also gone up. The 2021 meme-stock rally was led by GameStop and AMC.
Thursday, GameStop stock was stopped twice because it was too volatile. When the stock closed at $46.55, it was the highest it had been since May 14, when it closed at $48.75. In the last six days, GameStop stock has gone up five times.
AMC stock ended the day up 12.4% on Thursday, after going up 7.5% on Wednesday.
Monday, shares of GameStop went up again after a post on Reddit on Sunday from an account linked to Gill seemed to show that he had a big stake in the video game store. After that, on Monday, a screenshot showed Gill still in his position.
Boursewatch couldn’t confirm that the screenshots were real. Gill also wrote something mysterious on X, which used to be called Twitter. He posted a green Uno “reverse” card.
A spokesman for Bill Galvin, the secretary of state for Massachusetts, told MarketWatch on Tuesday that the state’s securities division is “looking into” Gill’s businesses.
The Wall Street Journal reported this week that the Securities and Exchange Commission has been looking into trading in GameStop call options around the time that Gill made the social media posts. The report was based on interviews with people who know about the situation. The Journal says that it was not possible to tell if the SEC was specifically looking into Gill.
People have asked Gill for comment on the Massachusetts investigation and the SEC’s rumoured trading review, but he has not yet replied.
In 2024, shares of GameStop are up 165.5%, while shares of AMC are down 5.4% and shares of the S&P 500 index SPX are up 12.2%.
