Pavel Gonchar | SOPA Images | Light rocket | Getty Images
Shares GameStop It hit a session high on Thursday after meme leader Roaring Kitty scheduled a Youtube livestream, his first in nearly four years.
Roaring Kitty, whose real name is Keith Gill, has scheduled his live chat for Friday afternoon, which traders speculate will be an upbeat discussion of his huge bet on GameStop. In August 2020, the investor did a three-hour livestream explaining his investment thesis for his favorite brick-and-mortar video game retailer.
Following this live update, GameStop’s price rose 40% to around $44 per share. Trading was stopped due to volatility. The stock is up more than 80% this week.
GameStop, 1 day
More than 10,000 people were already waiting for the live broadcast, and countless comments were coming through the chat window.
Gill, who goes by DeepF—–Value on Reddit, recently resurfaced online, more than three years after sparking a historic trading mania in 2021 that burned short-selling hedge funds. Last Sunday, he began posting screenshots of his electronic trading portfolio, which contains 5 million shares of GameStop common stock and 120,000 call options. Collectively, their market value is now at least $200 million.
As of Monday evening, he appeared to have maintained his position. Gill stopped posting updates after the Wall Street Journal reported that electronic trading broker Morgan Stanley was considering firing him over concerns that what he was doing might amount to market manipulation.
The investor is a former marketer for Massachusetts Mutual Life Insurance. This mania in 2021 led to a series of congressional hearings with Gill on brokerage practices and the gamification of retail trading.