GameStop soars 50% after Roaring Kitty schedules a YouTube live session for this week
- The meme-stock rally in GameStop continued on Thursday, with shares rising as much as 50%.
- The stock soared after Roaring Kitty scheduled a livestream on his YouTube channel for this week.
GameStop stock soared as much as 50% on Thursday after retail-trader hero Keith Gill's YouTube Channel scheduled a livestream for Friday at 11 a.m.
The stock pared some gains and traded at $43.66 at 3:40 p.m. ET.
The upcoming livestream is titled "Roaring Kitty Live Stream - June 7, 2024" and already has 12,500 YouTubers "waiting" for the stream to start.
The YouTube chat function tied to the livestream was on fire Thursday afternoon.
"LES GO DIAMOND HANDS" YouTube user Jmoa wrote.
YouTube user Adam Smith wrote "ROARING KITTY WE LOVE YOU!!!!!!!"
Gill's The Roaring Kitty YouTube account gained tens of thousands of subscribers on Thursday, climbing to 711,000.
Gill's social media accounts have seen a revival over the past few weeks after a three-year hiatus.
Last month, Gill's Roaring Kitty X account posted a slew of memes and sparked a massive rally in meme-stocks, led by shares of GameStop.
This past Sunday, Gill posted a "GME YOLO update" to his DeepFuckingValue Reddit account, which included a screenshot of his current portfolio positioning.
Gill revealed he owns 5 million shares of GameStop worth more than $200 million based on Thursday afternoon prices.
He also revealed a call option position with a $20 strike price that expires on June 21. That options position is worth nearly $275 million based on Thursday afternoon prices and gives Gill the right to purchase 12 million shares of GameStop at a $20 strike price.
All-in, Gill holds a bullish bet on GameStop worth upwards of $480 million at Thursday afternoon prices.
Business Insider could not confirm if the screenshot of Gill's brokerage statement posted to Reddit was authentic.