Shares of GameStop (GME) skyrocketed after a YouTube account believed to be linked to investor Keith Gill, also known as “Roaring Kitty” on social media, posted a livestream scheduled for Friday at noon ET.
Shares of the video game retailer rose 33% in premarket trading on Friday, after surging 47% during Thursday’s session.
After the market closed on Thursday, Reddit user DeepF***ingValue, an account previously associated with Gill, posted a new screenshot claiming their portfolio rose to $586 million, including GameStop stock holdings and unexercised option positions.
Earlier this week, the same user revealed that they paid $175 million for a position in GameStop that was valued at closer to $210 million at the time. Shares also rose after that announcement.
Friday’s livestream would be the first live appearance on the channel since Gill helped ignite the 2021 meme stock rally via bullish videos and posts about the video game retailer.
“The Roaring Kitty channel and live streams are for educational and entertainment purposes only. I do not provide personal investment advice or stock recommendations during the stream,” read the YouTube account description.
The channel has over 730,000 subscribers.
GameStop shares have been on a roller coaster ride over the past month as Gill resurfaced on social media.
Late Monday, following the user’s emergence over the weekend, the Wall Street Journal reported that executives at Morgan Stanley’s E-Trade platform were considering starting an account linked to the screenshot. GameStop shares fell about 5% the next day.
“Is the person who manages this account doing this in your interest or in his or her interest? And actually you should think about that carefully, because I think it is [is] It’s pretty clear whose interest it’s in,” Steve Sosnick, chief investment strategist at Interactive Brokers, told Yahoo Finance earlier this week.
“If you’re chasing the stock here, you’re probably the source of liquidity for whoever runs this account to sell your enthusiasm.”
GameStop soared 180% over a two-day span in mid-May after “Roaring Kitty” posted for the first time on X, formerly known as Twitter, since 2021.
Last month’s rally was short-lived, with analysts warning that the meme action this time around was a far cry from the level of 2021 retail inflows.
More than three years ago, Gill, along with the CEOs of Robinhood ( HOOD ), Citadel, Reddit ( RDDT ), and Melvin Capital, all appeared as part of a congressional committee investigation into the short squeeze on GameStop stock caused by wild retail investors . price.
In his testimony before the House Financial Services Committee, Gill detailed why he invested in the struggling video game retailer.
Correction: An earlier version of this story referred to E-Trade as JPMorgan’s trading platform. The platform is owned by Morgan Stanley. We regret the error.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X @ines_ferre.
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