GameStop saw its shares surge again on Thursday, June 6, after meme stock leader Keith Gill, also known as "Roaring Kitty," scheduled a YouTube return.
GameStop Shares Soar Over 40%
Shares of GameStop surged 47% to $46.55 after the market closed on Thursday, according to CNBC. During the session, trading was temporarily paused due to volatility, and the stock reached a high of $47.50. This week alone, the stock price has seen more than double.
Traders anticipate a bullish discussion over Gill's enormous GameStop stake during his scheduled livestream on Friday, June 7. The last live event he hosted was in 2021, which stayed on for seven hours.
'Roaring Kitty' Is Back
More than three years after igniting the unprecedented trading frenzy that devastated short-selling hedge firms in 2021, Gill resurfaced online not long ago.
Last weekend, he reportedly shared his E-trade portfolio on Reddit, which showed 120,000 call options and five million common shares of GameStop. Their combined market worth is currently above $200 million. Up until Thursday night, he seemed to have maintained his positions.
If Gill exercises his call options, his position in GameStop might reach 17 million shares. If the stock price goes back up to where it was in May, which was $64.83, CNBC estimated that Gill's holdings would be worth almost $1 billion.
Gill took a week off from publishing updates online after it was reported that his E-Trade broker at Morgan Stanley was thinking about banning him on concerns that his actions amounted to market manipulation.
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