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Share from GameStop taken to the highest session on Friday after the leader of the Roaring Kitty meme share is scheduled to be livestreamed on Youtube, which will be the first time in almost four years.
Roaring Kitty, whose real name is Keith Gill, set a time to live chat at noon on Friday, which traders speculated will be a bullish discussion about the massive GameStop stock. Investors hosted a three-hour livestream in August 2020 explaining the investment thesis behind your favorite brick-and-mortar video game retailer.
GameStop is up 40% higher to trade around $44 each after this livestream update. Trading was halted due to volatility. The stock is up more than 80% this week.
GameStop, 1 day
There are already more than 10,000 people waiting on the livestream and countless comments are flowing through the chat box.
Gill, who goes by DeepF——Value on Reddit, re-emerged online recently more than three years after sparking the historic trading mania of 2021 that set the hedge fund on fire. Last week, he began posting images of his E-trade portfolio holding 5 million shares of GameStop common stock and 120,000 call options. Combined, they now have a market value of at least $200 million.
He has apparently held his position since Monday night. Gill stopped posting updates after the Wall Street Journal reported that E-Trade broker Morgan Stanley was considering booting him out of concern that what he was doing could amount to market manipulation.
The investor is a former marketer for Massachusetts Mutual Life Insurance. The mania in 2021 led to several congressional meetings, featuring Gill, on the practice of brokers and gamifying retail trade.