Shares of GameStop (GME.N) surged nearly 50% on Thursday after Keith Gill, known online as “Roaring Kitty,” announced he would host a YouTube livestream on Friday. This surge is the latest in a series of volatile trading for the struggling video game retailer, which kicked off last month when Gill returned to X.com after a three-year hiatus. The “Roaring Kitty” YouTube channel showed an upcoming livestream scheduled for 12 p.m. ET (1600 GMT) on Friday. Earlier in the week, GameStop shares had closed over 20% higher following a post on Gill’s Reddit profile, indicating a $116 million bet on the stock after his absence.
Gill was instrumental in the 2021 rally of GameStop and other “meme stocks,” driven by individual investors on Reddit’s WallstreetBets forum. His return has rekindled interest and rallies in GameStop, AMC Entertainment (AMC.N), and headphone maker Koss (KOSS.O).
GameStop’s stock ended Thursday at $46.55 per share, marking a 160% increase in 2024. In 2021, the stock peaked at nearly $121 before dropping almost 90% in the following days. The U.S. Securities and Exchange Commission investigated the 2021 meme stock craze, concluding that marketplace systems functioned well.