GameStop shares climbed as much as 40% to $44 per share in Thursday trading after Keith Gill, the meme investor kingpin known as “Roaring Kitty,” signaled he would return for his first public live stream in nearly four years.
A listing on the “Roaring Kitty” YouTube page said the live stream is scheduled for Friday at 12 pm ET. In a sign of the channel’s popularity, more than 13,000 viewers were already waiting in the video feed’s live chat as of Thursday afternoon.
Gill used the platform to detail the reasoning behind his infamous GameStop bet, which kicked off the so-called “meme stock rally” of 2021 as retail investors attempted to squeeze institutional investors who were betting against the company.
GameStop shares are up more than 133% since the start of the year.
While Gill has not indicated what he will discuss on stream, investors will be anxiously awaiting answers on his mysterious return to the public eye and the details of his latest bet on the company.
“Roaring Kitty” sparked a renewed frenzy among retail investors last month after he began posting a series of memes on his long-dormant X account. The memes sparked speculation that Gill, who hadn’t posted anything online in several years, was making a comeback.
GameStop, movie theater chain AMC and other so-called meme stocks all soared following Gill’s return – though the rally has since fizzled.
The chaos intensified this week when Gill posted a screenshot indicating that his portfolio on E*Trade includes 5 million shares of GameStop common shares and 120,000 call options. The position is worth at least $200 million, according to CNBC.
E*Trade has considered kicking Gill off the platform due to internal concerns about potential market manipulation, the Wall Street Journal reported, citing people familiar with the matter.
Executives at the platform were said to be considering whether it was worth removing Gill and risk angering his legions of online followers. So far, no decision has been made.
Source: NYPOST