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Friday, June 21, 2024

GameStop Soars as Roaring Kitty Plans First Livestream in Years

Shares of GameStop skyrocketed Thursday after the meme stock maestro, “Roaring Kitty,” announced his return to YouTube for a livestream. This will be his first appearance in nearly four years, and traders are buzzing.

Roaring Kitty’s Big Comeback

Keith Gill, known online as Roaring Kitty, has scheduled his livestream for noon on Friday. Fans and traders alike are eager, speculating that he’ll have bullish news about his substantial GameStop investment. Gill made waves back in August 2020 with his marathon three-hour livestreams, passionately laying out his investment strategy for the beloved brick-and-mortar video game retailer.

GameStop Stock Surges

The anticipation of Gill’s livestream sent GameStop’s stock soaring by over 47%, closing at $46.55 per share. It even hit an intraday high of $47.50, triggering a temporary halt in trading due to the volatility. So far this week, GameStop’s stock has more than doubled in value.

GameStop Soars as Roaring Kitty Plans First Livestream

Massive Online Interest

Ahead of the livestream, more than 10,000 eager viewers were already queued up, flooding the chat box with comments. The excitement is palpable as people await insights from the man who played a key role in the 2021 trading frenzy.

The Man Behind the Mania

Keith Gill, also known by his Reddit handle DeepF——Value, recently resurfaced online after a three-year hiatus. He gained fame for igniting the 2021 trading mania that hit short-selling hedge funds hard. Last Sunday, Gill started posting screenshots of his E-Trade portfolio, showing his massive holdings of five million GameStop shares and 120,000 call options. These holdings are now valued at over $200 million.

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Potential for Massive Gains

If Gill exercises his call options, his stake in GameStop could swell to 17 million shares. Should the stock climb back to its May high of $64.83 per share, Gill’s position could be worth more than $1 billion.

Regulatory Scrutiny

Gill’s hiatus came after The Wall Street Journal reported that Morgan Stanley’s E-Trade broker was considering dropping him due to concerns over potential market manipulation. Despite this, Gill appears to have maintained his positions, remaining a steadfast GameStop supporter.

The Road Ahead

As the clock ticks down to Gill’s livestream, the anticipation continues to build. Will he reveal new insights into his investment strategy? Will his bullish stance on GameStop hold? Traders and fans are on the edge of their seats, waiting to see what the future holds for this iconic meme stock and its most famous champion.

Austin Kaiser
Austin Kaiser
Austin Kaiser is a self-taught value investor with over 10 years of experience. He holds an MBA from Florida State University and certifications in Risk Management Assurance and Internal Auditing. Austin covers the Business News category for our site.

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