Kellye Johns
Jun 07, 2024 - 04:15

Roaring Kitty Livestream GameStop Stock Blasts Off - Decrypt

Subscribe to Alpha Reports for exclusive insights on airdrops, NFTs, and more! GameStop (GME) soars as Roaring Kitty plans YouTube livestream.

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The iconic meme stock GameStop (GME) experienced a jaw-dropping 48% surge in just one day, closing at $46.55 on Thursday. This surge came shortly after its biggest supporter, Keith Gill, also known as Roaring Kitty, announced a YouTube livestream scheduled for Friday at noon ET.

Fans of GME were quick to notice a small update on Gill's YouTube account, which coincided with a 9% intraday increase in the stock price. This rapid growth led to potential losses of $1 billion for short sellers who had bet against the stock.

Over the past month, GME has seen a remarkable 185% increase in its price. The stock's performance over the past six months and year-to-date reflects a similar upward trend.

Following the market close, Gill's Reddit account, DeepFuckingValue, shared a "YOLO update" showcasing GME's closing price and significant gains. This surge in GME, along with other meme stocks like AMC Entertainment, has captivated the market in 2021 as retail investors rallied to support these nostalgic favorites.

Since Roaring Kitty's return to Twitter on May 12, GME has been on a winning streak. His enigmatic posts caused a frenzy, leading to multiple trading halts the following day.

After a period of silence, Gill reemerged on Twitter and Reddit this week, revealing his GameStop stock holdings and a massive $200 million bet on the stock's performance by June 21. This disclosure prompted Morgan Stanley to consider removing him from its ETrade platform and drew regulatory scrutiny for potential market manipulation.

With his social media accounts reactivated, Gill's return to YouTube for a livestream was highly anticipated. The upcoming show, scheduled for Friday, has already garnered over 14,200 sign-ups, with an overflow of live comments in the chat.

As meme stock and crypto traders eagerly await Gill's insights, the livestream description emphasizes that the content is for educational and entertainment purposes only, disclaiming any personal investment advice or stock recommendations during the stream. Get ready for an exciting and informative session with Roaring Kitty!