GameStop Stock Surges as Meme Trader Keith Gill Plans YouTube Livestream

GameStop stock witnessed a substantial surge on Thursday as meme trader Keith Gill, also known as Roaring Kitty, announced plans for a YouTube livestream.

Gill, a prominent figure in the meme stock frenzy, has scheduled a YouTube livestream for June 7, marking his first appearance in over three years.

The YouTube stream is expected to revolve around Gill’s position in GameStop stock, further fueling the excitement among meme stock enthusiasts.

Keith Gill re-entered the social media scene in early May, hinting at his return to trading activities and sparking renewed interest in meme stocks.

His GameStop short squeeze exploits in 2020 and 2021 attracted significant attention and played a crucial role in the meme stock phenomenon.

GameStop’s rally on Monday followed an investment update in which Gill revealed a substantial increase in his GameStop position, amounting to $260 million.

Morgan Stanley-owned E-Trade is reportedly weighing the possibility of removing Gill from its platform due to concerns of potential stock manipulation.

Additionally, the Securities and Exchange Commission is reviewing the trading activity surrounding GameStop call options during the timing of Gill’s social media posts to determine if any manipulation occurred.

GameStop shares surged by 47.5% on Thursday, prompting multiple trading halts on the New York Stock Exchange amidst the frenzied buying.

AMC Entertainment, another meme stock, also experienced a significant increase in its stock price, jumping 12.4% on Thursday.