GameStop (GME) shares surged by 50% on Thursday after Keith Gill, known as "Roaring Kitty" on YouTube and "DeepF-Value" on Reddit, announced he would be returning to live streaming on Google's YouTube platform for the first time in three years. This news reignited interest in the meme stock that Gill famously backed in 2021.
The announcement, posted on YouTube, indicated that Gill would go live at noon Eastern Time on Friday. Although Gill did not specify what topics he would cover or what disclosures he might make, the mere news of his return and recent updates on his GameStop holdings have fueled speculation that he remains bullish on the stock.
The livestream announcement included a disclaimer stating that any opinions expressed are personal and do not represent future results. The disclaimer also noted that the YouTube channel has no obligation to update or correct any information provided in the videos.
Shortly after the post went live, over 10,000 YouTube users expressed interest in receiving notifications for the livestream. The video's live chat was quickly filled with hundreds of comments. GameStop also became a trending topic again on popular forums such as StockTwits and Reddit's WallStreetBets.
Gill's influence over GameStop's stock resurgence has been significant. He first gained widespread attention in 2021, sparking a massive surge in meme stocks, before retreating from the public eye. On May 13, he posted a meme on X (formerly Twitter) depicting a person leaning forward intently while gaming, hinting at his renewed focus on GameStop. This tweet garnered over 18 million views. He followed up with more posts featuring movie clips about character comebacks. His last activity on X prior to this resurgence was in June 2021.
Andrew Left, founder of Citron Research and a known adversary of Gill, acknowledged Gill's impact, remarking that Gill could easily manage a hedge fund. Gill's recent activity included updating his Reddit followers on his GameStop positions, revealing a purchase of 5 million shares at $21.27 each and acquiring 120,000 call options with a $20 strike price expiring on June 21.
Gill's return also prompted responses from his old rivals. Andrew Left announced he was shorting GameStop again following Gill's post. Prominent investor Duan Yongping sold call options with a $100 strike price expiring on January 17, 2025, expressing confidence in his position by posting, "This call is almost certainly a winner."
There are also reports that Morgan Stanley's brokerage E-Trade may take action against Gill, potentially banning him from trading on their platform. Additionally, at least one securities regulator is reportedly investigating him for possible stock manipulation.
As the GameStop saga continues, the stock's wild ride remains a focal point for retail investors and market watchers, spurred on by the renewed presence of one of its most influential figures.
