GME Rocketed Higher: Roaring Kitty’s Livestream Sends GameStop Stock Soaring

Boston, MA – GameStop stock surged dramatically after a popular YouTube account, believed to be associated with investor Keith Gill, known as "Roaring Kitty," announced a livestream scheduled for Friday at noon ET. The video game retailer’s shares experienced a significant 33% increase in pre-market trading on Friday, following a 47% rise in Thursday’s session.

On Thursday, Reddit user DeepF***ingValue, previously linked to Gill, shared a screenshot revealing a portfolio value of $586 million, including GameStop stock and options positions. Earlier in the week, the same user disclosed a $175 million investment in GameStop, leading to a boost in the stock price. The upcoming livestream on Friday marks the first live appearance on the channel since Gill’s involvement in the meme stock rally in 2021.

The Roaring Kitty YouTube channel, which has over 730,000 subscribers, clarified that the content is for educational and entertainment purposes only, emphasizing no personal investment advice will be provided during the stream. GameStop’s stock has been volatile in recent weeks, with Gill’s presence on social media reigniting interest.

Following reports that Morgan Stanley’s E-Trade was considering action against an account linked to the screenshot, GameStop shares fell by 5%. Analysts have warned that the recent meme stock activity might not be sustainable, as retail investor inflows are lower compared to 2021 levels.

Keith Gill, along with other industry figures, appeared before a congressional committee in a hearing regarding the GameStop stock price surge driven by retail investors. Gill defended his investment in the struggling retailer during his testimony.

The recent resurgence in GameStop’s stock price has drawn attention to the influence of social media on market dynamics. As the saga continues, analysts are closely monitoring the developments to assess the long-term implications of these rapid fluctuations in stock prices.