GameStop Shares Surge Over 47% as Keith Gill Announces Return to Livestreaming

June 7, 2024 at 01:20 PM GST 2 mins read Latest News

GameStop shares soared over 47% after Keith Gill announced a YouTube livestream.
Nearly 15,000 users registered for Gill’s livestream, sparking speculation.
Gill’s recent online activity reignited interest in meme stocks, including AMC.

On Thursday, GameStop’s (GME) shares shot up more than 47% after it was revealed that ‘Roaring Kitty’, would be doing his first YouTube livestream in over three years. Gill, a prominent figure in the 2020 and 2021 meme-stock craze, has set the livestream for Friday at 12 p.m. ET, which has drawn a lot of attention from the crypto community.

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BREAKING: "Roaring Kitty" is set to be a billionaire as GameStop stock, $GME, surges to $67.50/share in after hours trading.

If $GME opens at or above current levels tomorrow, his shares will be worth ~$325 million and options worth ~$700 million for a combined ~$1 billion.… pic.twitter.com/UqnUPoShnv
— The Kobeissi Letter (@KobeissiLetter) June 6, 2024

Roughly 15,000 people had signed up to watch Gill’s livestream as of 4:30 p.m. ET on Thursday. His comeback to YouTube has already created a lot of attention and raised questions about how it might affect GameStop’s stock price.

The stock has fluctuated significantly over the last few weeks due to Gill’s online activity, raising the possibility of further volatility after his Friday appearance.

Gill gained fame for his lengthy livestreams on the Roaring Kitty account in 2020 and 2021, at the height of the meme-stock craze. He would share his passion for GameStop stock on multiple days a week, going live for hours at a time.

Gill’s analysis and strong support of the stock were key factors contributing to its rise. The excitement surrounding GameStop, however, subsided after his June 2021 disappearance from the general public.

Gill returned to X last month after a hiatus that began in 2021. His comeback has sparked speculation about a possible comeback and renewed interest in GameStop and other meme stocks like AMC Entertainment (AMC). This increased activity has raised GameStop’s price and drawn attention from regulators and other market players.

The significant increase in GameStop’s stock price since Keith Gill’s return to livestreaming has already caused a stir in the financial community. The market is bracing itself for possible volatility as investors eagerly await his analysis.