GameStop Shares Surge as “Roaring Kitty” Plans First Livestream in Three Years

GameStop (GME) shares experienced a significant surge of over 47% on Thursday following the announcement that Keith Gill, also known as “Roaring Kitty,” is set to host his first YouTube livestream in more than three years. This news comes after weeks of online activity from Gill that has had a notable impact on GameStop’s stock price.

Key Takeaways

• GameStop shares soared 47% Thursday after Keith Gill, also known as “Roaring Kitty,” scheduled his first YouTube livestream in more than three years.
• The livestream is scheduled for Friday at noon Eastern Time and comes after weeks of online activity from Gill that sparked swings in GameStop’s stock price.
• The move comes as Morgan Stanley’s E*Trade reportedly considers banning Keith Gill from the trading platform and regulators investigate trading activity around GameStop amid concerns about whether Gill’s actions constitute market manipulation.

How Gill’s Livestream Could Affect GameStop Stock

Gill’s upcoming livestream on Friday is anticipated to have a significant impact on GameStop’s stock price. His previous online activities have been known to cause fluctuations in the stock, and the livestream is expected to generate further volatility.

During the meme-stock craze of 2020 and 2021, Gill regularly streamed on the Roaring Kitty account for extended periods, leading to surges in GameStop’s stock price. His enthusiasm for GameStop and belief in its undervaluation were key factors in driving up the stock price during that time. However, as Gill took a step back from public life in June 2021, the hype around GameStop subsided.

Recently, Gill returned to online platforms and began posting about GameStop once again, reigniting interest in the stock and causing its price to rise. This resurgence has also impacted other meme stocks like AMC Entertainment (AMC), hinting at a potential revival of meme stock trading.

Regulators Reportedly Investigating Gill’s GME Trades

Amidst the excitement surrounding Gill’s return to livestreaming, reports have emerged that Morgan Stanley’s E*Trade is contemplating banning him from their trading platform. Regulators are also looking into the trading activity surrounding GameStop to determine if Gill’s actions could be considered market manipulation.

Following the announcement of Gill’s livestream, GameStop shares closed 47.5% higher at $46.55 on Thursday, while AMC saw a 12.4% increase to $5.79. Other meme stocks like Tupperware (TUP) also experienced gains in response to the news.

As investors eagerly await Gill’s upcoming livestream, the market remains on edge, anticipating further movements in GameStop’s stock price. The impact of online influencers like Gill on stock prices continues to be a topic of interest for regulators and market participants alike.

For more financial news and updates, visit Investopedia.