Pavlo Gonchar | Sopa Images | Light Rocket | Getty Images
shares game station On Thursday, meme stock leader Roaring Kitty scheduled a live broadcast on Youtube, which would be his first in nearly four years, sending shares soaring to session highs.
Roaring Kitty, whose real name is Keith Gill, set the live chat for noon on Friday in what traders speculate will be a bullish discussion of his massive GameStop stake. The investor hosted a three-hour livestream in August 2020, explaining the investment thesis behind his favorite brick-and-mortar video game retailer.
GameStop gained 30%, trading at about $40 per share. The stock soared as much as 40% after the live update, and trading was briefly halted due to volatility. The stock is up more than 80% this week.
GameStop, 1 day
More than 10,000 people were waiting in the live broadcast room, and the chat room was filled with countless comments.
Gill’s Reddit nickname, DeepF – Value, recently resurfaced online more than three years after he sparked a historic trading frenzy in 2021 that burned short-selling hedge funds. On Sunday, he began posting screenshots of his electronic trading portfolio, which held 5 million shares of GameStop common stock and 120,000 call options. Their combined market capitalization is now at least $200 million.
As of Monday night, he appeared to be holding his ground. Gill stopped posting updates after the Wall Street Journal reported that Morgan Stanley’s electronic trading brokers were considering firing him over concerns that his actions could amount to market manipulation.
The investor is a former marketer for Massachusetts Mutual Life Insurance Company. The frenzy of 2021 sparked a series of congressional hearings, headed by Gill, surrounding brokerage practices and gamified retail trading.
