GME shares skyrocketed today as the market buzzed with anticipation for Roaring Kitty’s (Keith Gill) first YouTube livestream in three years. The infamous investor, who ignited the GameStop frenzy on r/WallStreetBets back in 2020, is back and ready to shake things up once again.
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Today, GME closed up a whopping 47%, leaving everyone wondering what will come next. With an updated GameStop position and a scheduled livestream, the financial industry is on edge. At press time, Gill is worth over $586 million, boasting a 219% gain from his investments.
GME sees meteoric rise
Keith Gill, better known as Roaring Kitty or DeepFuckingValue, had been silent for a while, but his return to social media has caused quite a stir. GME shares have seen a rollercoaster of a ride. On May 10th, they were trading at $17.46. By May 14th, they had surged to $55.69, only to retrace those gains shortly after.
Fast forward to June 3rd, and GME closed at $28, valuing Gill’s stake at $476 million. At its recent peak of $64.83, his stake would have been over $1.1 billion. Kitty’s journey with GameStop is nothing short of legendary. His role in the historic short squeeze of late 2020 and early 2021 has been well-documented. His investment strategy and confidence have earned him a massive following, and his recent activities indicate he’s not done yet.
Also Read: GameStop ‘Breaks’ NYSE as Berkshire Hathaway Tanks
His last activity on Reddit before now was a cryptic comment on January 5, 2021, where he hinted at possibly investing his $1.1 million in more GameStop shares. This seemingly casual remark now appears strategic, and the entire financial community is trying to decipher what it could mean.
Roaring Kitty faces regulatory scrutiny
Investors and traders aren’t the only ones keeping an eye on Gill. His significant influence on the market has attracted the attention of regulators. Massachusetts’ top securities regulator is investigating his recent trading activities, and E-Trade is contemplating banning him from its platform.
The scheduled YouTube livestream has added fuel to the fire. Set for Friday at 12 p.m. ET, this livestream is expected to draw massive viewership. Everyone wants to know what Roaring Kitty has to say after his long hiatus. His insights and strategies could significantly impact the market, especially GME’s stock price.
Retail investors have been making many predictions on Twitter. Some expect the stock to close at $70 tomorrow, and some expect it to go as high as $100 or even more. Whichever happens, Gill will become a billionaire, one of the richest people in the world, and the most successful retail investor ever.
Cryptopolitan reporting by Jai Hamid
