GME: GameStop Stock Rockets 48% After ‘Roaring Kitty’ Sets Up YouTube Live Event

Another 35% were showing as upside in pre-market trading Friday as retail traders were building excitement ahead of the live stream.

• GameStop stock GME rallied 48% on Thursday, adding more than $3 billion to its market cap, after the man, the myth, the legend — Roaring Kitty — scheduled a live stream on YouTube for Friday. The meme stock maven, whose real name is Keith Gill, will be speaking to tens of thousands of viewers (and counting) for the first time in almost four years.
• Mr. Kitty hasn’t given any heads up about possible topics of discussion. Reddit traders, however, speculate that he’ll be addressing his big GameStop stake and talking up the bullish prospects ahead for the video game retailer. Back in August 2020, Roaring Kitty popped in a livestream and laid out his investing thesis — a move that set off a retail trading revolution.
• The excitement isn’t toning down. Even after Thursday’s chunky gain, GameStop shares are up more than 35% in pre-market trading, impatiently waiting to wreck some short-sellers’ portfolios. Without today’s implied gain factored in, GameStop is up more than 300% since early May, just days before Roaring Kitty posted a screenshot and unleashed an army of YOLO traders looking for a good chance to take on the pros from Wall Street and make a quick buck (or lose it).