- GameStop shares surged over 30% on Thursday after the online stock influencer “Roaring Kitty” (Keith Gill) posted on YouTube that he would hold a livestream on Friday.
- This is the latest bout of volatile trading in GameStop’s shares following Gill’s return to Reddit last month after a three-year hiatus, where he revealed a $116 million bet on the stock.
- Gill was a key player in the 2021 rally in GameStop and other “meme stocks” fueled by individual investors on Reddit’s WallStreetBets forum.
GameStop’s stock price saw a dramatic increase on Thursday after influential online trader Keith “Roaring Kitty” Gill announced an upcoming livestream event.
Roaring Kitty Sparks Trading Frenzy
On Thursday, shares of struggling video game retailer GameStop surged over 30% after Gill posted on his YouTube channel that he would hold a livestream on Friday morning. Gill, whose real name is Keith Gill, returned to social media after a three-month hiatus.
The announcement of Gill’s upcoming livestream led to a spike in volatile trading of GameStop shares. This follows a similar trading frenzy back in January 2021 when Gill and an army of retail investors on Reddit’s WallStreetBets forum helped drive up GameStop’s stock in an epic short squeeze.
Gill’s Influence Over Meme Stocks
Keith Gill, under his online persona Roaring Kitty, gained fame and influence over so-called “meme stocks” like GameStop. Gill provided bullish analysis and updates on GameStop’s stock to his followers on YouTube, Reddit, and Twitter.
On Monday of this week, GameStop shares jumped over 20% higher after Gill’s Reddit account became active again for the first time in three years. He posted a screenshot showing a $116 million bet on GameStop stock.
Gill’s social media activity and favorable outlook on GameStop has proven to move the company’s share price and spur bands of retail investors to action. His livestream on Friday morning will likely attract plenty of viewers eager to hear his latest thoughts.
GameStop Stock Remains Volatile
GameStop’s stock price has seen major volatility over the past year and a half. The company has struggled to turn its brick-and-mortar video game business around amid shifting industry trends.
However, legions of retail investors and traders looking to capitalize on meme stock swings continue to show interest in GameStop. As long as influential figures like Roaring Kitty participate, the company’s shares are likely to exhibit dramatic price swings.
