Shares of GameStop (GME) soared more than 30% on Thursday 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 E.T.
This 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 store.
“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 approximately 706,000 subscribers.
GameStop shares have been on a roller coaster ride over the past month as Gill, also known as DeepF-ing Value on Reddit, resurfaced on social media.
On Monday, shares rose 21% after an account believed to be linked to Gill posted a screenshot on Reddit that claimed to show ownership of nearly $175 million in GameStop stock and call options.
The next session the stock fell 5%. The Wall Street Journal reported that executives at JPMorgan’s (JPM) E*Trade platform were considering deleting the account linked to the screenshot.
“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,” Sosnick said.
“If you’re chasing the stock here, you’re probably the source of liquidity for whoever runs this account to sell your enthusiasm.”
GameStop also rose 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.
Shares of fellow meme stocks AMC (AMC) have followed GameStop’s coattails. The stock rose 10% on Monday.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X @ines_ferre.
