GameStop (GME) stock surged 47% on Thursday. The catalyst was a livestream announcement scheduled for Friday at noon ET on a YouTube account associated with investor Keith Gill, known as "Roaring Kitty" on social media.
Reddit User DeepFingValue's Portfolio Reaches $586 Million*
After the market closed, Reddit user DeepF***ingValue, previously linked to Keith Gill, shared a screenshot showing their portfolio had reached $586 million. This included GameStop stock holdings and unexercised options positions. Earlier in the week, this user disclosed investing $175 million in GameStop, boosting the stock's value.
First Live Appearance Since 2021 Rally
The upcoming livestream marks Roaring Kitty's first live appearance since his influential role in igniting the 2021 meme stock rally. Through bullish videos and social media posts about GameStop, Gill became a prominent figure in the meme stock phenomenon.
The YouTube account's description emphasizes that the Roaring Kitty channel and its livestreams are primarily for educational and entertainment purposes, with no personal investment advice or stock recommendations provided during the streams.
Potential for Billionaire Status
Investor Anthony Pompliano highlighted the potential for Keith Gill to become a billionaire if GameStop's stock reaches $69 per share. Pompliano underlined Gill's journey from impacting billionaire hedge funds to the possibility of achieving billionaire status himself.
Excitement Spreads to Digital Asset Market
The excitement surrounding GameStop has extended to the digital asset market. The Solana-based meme token, GME, inspired by GameStop but not officially affiliated with the company, has witnessed substantial gains. Over the past month, the token has surged by more than 4,600%, with a notable 118% increase in the past 24 hours.
Reflection of a Dynamic Market Environment
The surge in GameStop stock on Wall Street and the concurrent rise of the Solana-based GME meme token reflect the dynamic and unpredictable nature of the market. As retail investors and hedge funds continue to engage in this financial spectacle, the coming days are likely to bring more excitement and volatility.