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GameStop Stock and Meme Crypto GME Surge After 'Roaring Kitty' Announces Livestream

Updated: Jun 12

GameStop Stock and Meme Crypto GME Surge After 'Roaring Kitty'’s Livestream Announcement

GameStop (GME) shares surged over 40% on Thursday following the announcement of a livestream by a YouTube account linked to investor Keith Gill, famously known as "Roaring Kitty" on social media. The livestream is scheduled for Friday at noon ET. GameStop's cryptocurrency, which shares the same name as the stock and is a meme coin based on the Solana Network that pays tribute to the 2021 short squeeze of GameStop, also jumped by over 40% following the same announcement.

If this livestream occurs, it will mark Gill's first live appearance on the channel since his bullish videos and posts about the video game retailer sparked the meme stock frenzy in 2021. The channel has about 706,000 subscribers.

The stock closed at $46.55, while the cryptocurrency is trading at $0.016 at the time of writing, having surged approximately 280% in the past 7 days. Despite not being connected to the GameStop company, the cryptocurrency still appears to follow the movement in price action of the stock.

It will be interesting to see the performance of both assets, referring to the stock and the cryptocurrency, during and after the livestream.On Monday, shares jumped 21% after a Reddit post, believed to be from Gill, displayed a screenshot suggesting a holding of nearly $175 million in GameStop stock and call options. However, the stock fell 5% in the next session. The Wall Street Journal reported that executives at JPMorgan's (JPM) E*Trade platform were considering banning the account linked to the screenshot.

In mid-May, GameStop surged 180% over two days after "Roaring Kitty" posted on X (formerly Twitter) for the first time since 2021. However, last month's rally was brief, and analysts cautioned that this meme stock activity didn't match the retail inflows witnessed in 2021.


DISCLAIMER: This article is solely for informational purposes and not for financial, investment, or trading advice, and should not be relied upon for making decisions. Furthermore, has positions in the cryptocurrency mentioned in this article. For more see our full disclosure here.

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