GameStop Stock Soars Ahead of Roaring Kitty's First Live Streaming in 3 Years

Bittime - GameStop (GME) shareholders were delighted on Thursday after the company's shares jumped more than 47%. This share price increase was triggered by Roaring Kitty's plan to conduct its first live streaming in the last 3 years.

Keith Gill, an investor known as "Roaring Kitty" and a key figure in the meme stock phenomenon in 2020 and 2021. He plans to hold his first live stream on YouTube after a hiatus of more than three years.

Gill announced the live streaming via his YouTube account entitled "Roaring Kitty". This live streaming is planned to be held on Friday at 12 noon ET (Saturday morning WIB) and will be the first since 2021.

As of Thursday afternoon at 4:30 ET, nearly 15,00 users had registered to watch the live stream.

Will Gill's Live Streaming Fuel GameStop (GME) Volatility?

Gill's decision to hold this live streaming gave rise to speculation regarding the potential for an even higher jump in GameStop's share price. The reason is, Gill's online activities over the last few weeks have proven capable of influencing GameStop share price movements.

During the meme stock craze in 2020 and 2021, Gill was known to regularly stream live on the "Roaring Kitty" account for hours. In fact, he does it several days a week.

The surge in GameStop share prices in 2020 was inseparable from Gill's video. He explained his enthusiasm for GameStop shares and the reasons why he believes these shares have a higher intrinsic value (undervalued).

However, after Gill withdrew from the public spotlight in June 2021, the GameStop stock fever slowly subsided - until recently.

Last month, Gill was observed to be active again on the X platform for the first time since June 2021. This online activity also helped push up GameStop's share price.

Apart from that, other meme stocks, such as AMC Entertainment (AMC), are rising again. This sparked speculation about the revival of the meme stock phenomenon.

Regulators Investigate Gill's Trading Activities

Gill's return to the world of live streaming was also marked by reports of an investigation by regulators into GameStop stock trading activities. Reportedly, Morgan Stanley (MS) through its E*Trade platform is considering banning Gill from trading on their platform.

Regulators are also reportedly investigating GameStop stock trading activities amid concerns that Gill's actions could potentially manipulate the market.

Despite the investigation, on Thursday GameStop's share price closed 47.5% higher at $46.55 (around Rp. 744,800). Share price increases also occurred in AMC, which rose 12.4% to $5.79 (around Rp. 92,640), as well as other meme stocks such as Tupperware (TUP).

Conclusion

Gill's first live streaming in the last three years is certainly eagerly awaited by investors. Especially those who participated in enlivening the meme stock phenomenon in 2020 and 2021.

Will this live streaming trigger another surge in the share prices of GameStop and other meme stocks? Let's just wait for the continuation. However, it should be noted that investment decisions must be made with careful consideration and in-depth analysis.

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