‘Roaring Kitty’ Speaks on YouTube Live... GameStop Stock Rises 47%

Individual investor 'Roaring Kitty,' who led the 'meme stock' craze, is speaking on a YouTube live stream. Following the news of his return to YouTube live after about four years, GameStop's stock price surged more than 47% in a single day.

Kiss Gill, active under the account 'Roaring Kitty'
[Image source=AP Yonhap News]

According to the economic media CNBC on the 6th (local time), Keith Gill, active under the account 'Roaring Kitty,' announced that he will conduct a YouTube live streaming at noon on the 7th. CNBC reported that more than 10,000 people are already waiting for the live stream, and countless comments are pouring into the chat room.

There are expectations that optimistic forecasts related to GameStop investment will be presented at this event. Roaring Kitty previously conducted a live streaming for about three hours in August 2020, explaining his investment theory on GameStop.

Every time news about Roaring Kitty, the 'leader ant' who led the 2021 GameStop incident, is delivered, the market stirs. Roaring Kitty hinted at his return by posting an image on social media (SNS) on the 12th of last month, and on the 2nd of this month, he disclosed a portfolio containing a significant amount of GameStop stock. The portfolio includes 5 million shares of GameStop stock and 120,000 call options with a strike price of $20 expiring on the 21st (purchase price $5.68), among other assets.

On the day the YouTube live was announced, GameStop's stock price also soared. On the New York Stock Exchange, GameStop closed the regular session at $46.55 per share, up 47.45% from the previous close. The year-to-date increase exceeds 165%. In after-hours trading, it is also up more than 22%, trading around $57 per share.

The past GameStop incident began in 2021 when individual investors, mainly gathered in Reddit's stock discussion forums, started buying GameStop stock intensively to counter Wall Street institutional investors' short selling. At that time, Roaring Kitty led the so-called 'ant rebellion' by promoting the purchase of GameStop through Reddit, YouTube channels, and other platforms, mentioning the high short-selling ratio of GameStop and the resulting hedge fund short squeeze prospects. In 2021 alone, GameStop's stock price rose by a staggering 2400%. The meme stock boom also centered around AMC, Bed Bath & Beyond, and others, not just GameStop.

This content was produced with the assistance of AI translation services.