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GameStop Shares Soar 47% as ‘Roaring Kitty’ Announces Live Stream, Reveals $382 Million Unrealized Gain
GameStop Stock (GME) rose 47% on Thursday after a YouTube account believed to be linked to investor Keith Gill, aka “Roaring Kitten” on social media, posted a live broadcast scheduled for Friday at noon ET.
After the market closed, Reddit user DeepF***ingValue, an account previously linked to Gill, posted a new screenshot purporting to show his position in the video game retailer rising to $586 million, including equity holdings and positions. unexercised options.
DeepF***ingValue’s alleged GameStop holdings. (Screenshot via Reddit)
Earlier this week, the same user revealed that it paid US$175 million for a position in GameStop at the time valued at about $210 million. Shares also rose after this announcement.
Friday’s live broadcast 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 more than 730,000 subscribers.
GameStop shares have been on a rollercoaster ride over the past month as Gill has resurfaced on social media.
On Monday night, after the user’s emergence over the weekend, the The Wall Street Journal reported that Executives at Morgan Stanley’s E-Trade platform were considering opening an account linked to the screenshot. GameStop shares fell about 5% the next day.
“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 rose 180% in two days in mid-May after “Roaring Kitty” first posted on X, formerly known as Twitter, since 2021.
Last month’s demonstration was short-termand analysts warned that the meme action this time went too far of the level of retail entries observed in 2021.
More than three years ago, Gill, along with the CEOs of Robinhood (HOOD), Citadel, Reddit (RDDT) and Melvin Capital, all he appeared as part of a Congressional committee’s investigation into the severe short squeeze caused by retail investors in GameStop’s share price.
The story continues
In his testimony before the House Financial Services Committee, Gill stated his case why he invested in the struggling video game retailer.
GameStop investor Keith Gill, also known on social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington in 2021. (House Financial Services Committee via AP, File) (ASSOCIATED PRESS)
Correction: An earlier version of this story referred to E-Trade as JPMorgan’s trading platform. The platform is owned by Morgan Stanley. We regret the error.
Ines Ferre is a senior business reporter at Yahoo Finance. Follow her on X at @ines_ferre.
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