GameStop Corp (NYSE: GME) shares soared by 47% on Thursday and gained an additional 31% in after-hours trading following the announcement that Keith Gill, known on social media as “Roaring Kitty,” would resume live streaming.
Gill, the driving force behind the initial meme stock surge, scheduled a broadcast on his YouTube channel for Friday at noon ET.
This news was accompanied by a screenshot posted by Gill on Reddit (NYSE: RDDT), showing an unrealized gain of $586 million in GameStop holdings.
Earlier this week, Gill disclosed a $175 million investment in GameStop, which had grown to approximately $210 million at the time.
This revelation also caused GameStop shares to surge by as much as 73%.
“The Roaring Kitty channel and live streams are for educational and entertainment purposes only. I don’t provide personal investment advice or stock recommendations during the stream,” reads the YouTube account’s description.
Gill’s channel, which boasts over 730,000 subscribers, will host its first live appearance since 2021 when his bullish posts significantly contributed to the initial meme stock saga.
However, analysts advise caution regarding the sustainability of this surge.
“Is whoever controlling this account doing this in your best interest or in their best interest? And, really, you should think that one through because, to me, it [is] pretty obvious whose interest it’s in,” commented Steve Sosnick, chief strategist at Interactive Brokers.
