GameStop shares surge after ‘Roaring Kitty’ schedules YouTube live for Friday

Lauren Irwin
·1-min read
GameStop shares surge after ‘Roaring Kitty’ schedules YouTube live for Friday

GameStop stock soared Thursday after “Roaring Kitty,” the originator of the meme stock frenzy, scheduled a YouTube live event for Friday.

The livestream is scheduled for June 7 at 12 p.m. ET and already had nearly 13,000 people waiting for it to begin.

Business Insider first reported the jump earlier Thursday, noting that the stock soared as much as 50 percent and traded at $43.66 as of 3:40 p.m. ET.

Roaring Kitty, known legally as Keith Gill, rose to fame on social media platforms like his YouTube channel and on the Reddit community r/WallStreetBets. He became popular among amateur traders, which exploded during the COVID-19 pandemic.

In 2019, Gill shared why he thought buying shares of GameStop, which at the time were barely $1, was a good idea. By late January 2021, so many traders were investing that shares peaked at more than $80.

Gill made millions and later faced a wave of backlash from Wall Street and Washington. He and his employer, MassMutual, were inundated with lawsuits but faced no criminal charges despite calls from Wall Street to crack down on the meme stock hype.

He testified before a House committee, and the GameStop stock frenzy fizzled out until last month.

Roaring Kitty disrupted the market again in May after posting on social media for the first time in years. GameStop stock jumped again after Gill posted the memes.

It’s not known what Gill is going to say in the livestream Friday. It could be more on GameStop stock or other investing opportunities. Whatever it may be, people will excitedly be watching.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to The Hill.

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Russia's war-driven economy is so hot that the World Bank upgraded it to a 'high-income country'

    Russia's trade rebounded by nearly 7% last year, while activities in the financial sector and construction grew by 6.6% and 3.6% respectively.

  • Now you can invest in digital gold from just RM10 with your TNG eWallet

    KUALA LUMPUR, July 2 — Malaysians can now invest in digital gold securely and conveniently from as low as RM10 following...

  • Singapore to tighten casino rules to counter terrorism funding

    Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal organisations.

  • 6 family office funds tied to Singapore launder case got tax breaks

    Six single family office funds linked to a S$3 billion money laundering case in Singapore have received tax incentives from the Monetary Authority of Singapore.

  • AI is changing banking, UBS executive says

    UBS is seeing a shift in the way clients are interacting with their bankers powered by artificial intelligence, the head of the Swiss bank's domestic business Sabine Keller-Busse said on Tuesday. She likened the shift to the way in which patients go to the doctor's with a picture of their ailment in mind, with clients using AI to come up with ideas they are then proposing to the bank. "In our industry this will happen as well because with Chat GPT there is more data available," Keller-Busse said at the Point Zero Forum in Zurich.

  • Stock market today: Nasdaq leads gains to kick off new quarter as Tesla pops 6%

    Political turmoil in France gripped investors weighing whether stocks can build on their stellar first-half performance.

  • 4 Steady Shoes & Retail Apparel Stocks in a Troubled Industry

    Elevated costs due to commodity cost inflation and continued reinvestments have been hurting the Shoes and Retail Apparel industry. However, product innovation, robust demand trends and digital investments should aid companies like ADDYY, SKX, CAL and WWW.

  • First Mover Americas: Bitcoin Bulls Hopeful Entering July as ETFs Record $130M Inflows

    The latest price moves in bitcoin (BTC) and crypto markets in context for July 2, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

  • Can AI boom drive Nvidia to a $4tn valuation despite investor doubt?

    Powerful new chips are on the way but there are questions over whether tech firm’s growth can be sustained

  • Reasons to Retain PacBio (PACB) Stock in Your Portfolio Now

    PacBio's (PACB) strong product demand and continued focus on R&D raise optimism about the stock.

  • Paxos Gains Singapore Approval for Stablecoin Issuance With DBS Providing Custody

    The Monetary Authority of Singapore released its stablecoin framework last year.

  • 5 Stocks That Powered Nasdaq ETF in the First Half

    The Nasdaq Composite Index outperformed in the first half of 2024, gaining about 18%. We have highlighted the five best-performing stocks of QQQ this year that led the way higher in the portfolio.

  • How to rebalance your portfolio for the second half of 2024

    As Wall Street heads into the second half of the year, Mitlin Financial founder and author of "Financial Planning Made Personal" Lawrence Sprung joins Wealth! to discuss the markets' (^DJI,^GSPC, ^IXIC) momentum and how it should inform your investing decisions. While past performance does not determine future performance, Sprung notes that historically, when there has been a strong first half, the momentum continued for the rest of the year. He believes the election will be a catalyst as it typically enhances market returns in an already strong year. He also explains that a possible interest rate cut could be another catalyst that drives higher returns. He encourages investors to review their portfolios mid-year and rebalance if necessary. Financials have been performing well in a higher interest rate environment and could tumble once a rate cut is initiated. Meanwhile, the energy sector will be sensitive to geopolitical events, which Sprung explains, "We can't time, but we can try to anticipate." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • What is a 'Winnie the Pooh' economy and is the US in one?

    Pick a new storybook because it's not a Goldilocks economy anymore; it might be a "Winnie the Pooh environment" now, at least according to Sanders Morris Harris chairman George Ball. Ball joins Market Domination to explore the balance being struck between the Federal Reserve's inflation policies and American business growth.  Fed Chair Jerome Powell is "pleased with the trajectory of inflation, and business is very pleased with its ability to earn good and growing profits in a higher interest rate climate than many people thought," Ball elaborates. "It's not Goldilocks, but it's a good backdrop for both business and the economy right now." At the European Central Bank (ECB) Forum on Central Banking on Tuesday, Powell stated the Fed has "made a lot of progress" in lowering inflation and is "getting back on a disinflationary path." Ball continues by commenting on the stock market's (^DJI, ^IXIC, ^GSPC) growth and the bond market's outlook ahead of the 2024 election. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

  • Top-Ranked ETFs That Outperformed the Market in 1H

    Wall Street wrapped up a blockbuster first half of the year. In the current scenario, investors should bet on ETFs that were winners in the first half and have a solid Zacks ETF Rank #1 (Strong Buy) or 2 (Buy).

  • Paramount shares rise on report of BET's potential sale

    Shares of Paramount Global (PARA) are rising on a Bloomberg report that the media giant will sell its Black Entertainment Television (BET) Network for $1.6 billion. The company is in exclusive talks with buyers that include its current CEO Scott Mills and Chinh Chu of CC Capital. Yahoo Finance Anchors Josh Lipton and Seana Smith break down the report and what it means for Paramount Global moving forward. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino

  • Northern Data considers AI unit US IPO at up to $16 billion, Bloomberg News reports

    The company, which provides infrastructure for high-performance computing, plans to enlist an entity comprising its cloud computing unit Taiga, and data centers, called Ardent, on the Nasdaq stock exchange as early as the first half of next year, according to the report. After two sub-par years, the U.S. IPO market has shown signs of promise in 2024, with investors showing renewed interest in fresh listings buoyed by hopes of a soft landing for the economy. AI-based startups have also attracted huge investments fueled by burgeoning demand in artificial intelligence following the launch of OpenAI's ChatGPT.

  • Thursday, not Tuesday: PM Anwar raps home minister for batik blunder in Parliament

    KUALA LUMPUR, July 2 — Prime Minister Datuk Seri Anwar Ibrahim today admonished Home Minister Datuk Seri Saifuddin Nasut...

  • Abused husky rescued after viral video, owner files police report demanding his dog back (VIDEO)

    KUALA LUMPUR, JULY 3 — A viral video showing a man beating his dog, a husky, while his other, smaller dog cowered in a c...

  • Death Of Teenage Badminton Star Prompts Outrage Over Delayed Medical Response

    Video from the incident shows tournament officials watching Chinese athlete Zhang Zhijie for around 40 seconds before medical help arrives.