GameStop Shares Soar as ‘Roaring Kitty’ Announces Live Stream

GameStop (GME) shares rose more than 40% on Thursday after a YouTube account believed to be linked to investor Keith Gill, also known as “Roaring Kitty” on social media, posted a scheduled live stream for Friday at noon ET.

This would be the first live appearance on the channel since Gill helped spark the 2021 meme stock rally through upbeat 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 while streaming,” read the YouTube account description.

The channel has around 706 thousand subscribers.

GameStop shares have been on a rollercoaster 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 also believed to be linked to Gill posted a screenshot on Reddit that purportedly showed a nearly $175 million stake in GameStop shares and call options.

In the following session, shares fell 5%. O The Wall Street Journal reported that Executives at JPMorgan’s (JPM) E*Trade platform were considering starting the account linked to the screenshot.

“Is whoever controls this account doing this in your best interest or their best interest? And really, you should think carefully about this because, to me, it’s [is] pretty obvious who the interest is in,” Steve Sosnick, chief strategist at Interactive Brokers, told Yahoo Finance earlier this week.

“If you are chasing the stocks here, you are more likely to be the source of liquidity for whoever is controlling this account to sell to your enthusiasm.”

GameStop also rose 180% in two days in mid-May following “Roaring Kitty” first posted on X, formerly known as Twitter, since 2021.

Last month’s rally was short-lived and analysts warned that the meme action this time around was a far cry from the retail entry level seen in 2021.

More than three years ago, Gill, along with the CEOs of Robinhood (HOOD), Citadel, Reddit (RDDT) and Melvin Capital, appeared as part of a Congressional committee investigation into the investor-driven sharp squeeze on GameStop shares. retail. price.

In his testimony before the House Financial Services Committee, Gill laid out why he invested in the struggling video game retailer.

Ines Ferre is a senior business reporter at Yahoo Finance. Follow her on X at @ines_ferre.