By Jerry Kronenberg | Moomoo News
$GameStop (GME.US)$ soared nearly 50% Thursday after meme-stock maven “Roaring Kitty” unveiled plans to hold a YouTube live stream – and reportedly claimed to have a nearly $600 million stake in the videogame company.
GME rallied 47.5% to a $46.55 close after multiple trading halts during the day to comply with the New York Stock Exchange’s limit-up/limit-down rule.
The stock took off after “Roaring Kitty,” whose real name is Keith Gill, announced plans for his YouTube live stream at noon ET on Friday.
Gill also reportedly claimed in a Reddit post to have a $586.5 million stake in the firm.
“Roaring Kitty” initially helped spark the 2021 meme-stock craze by touting GameStop on Reddit’s WallStreetBets forum.
That prompted the stock to soar nearly 3,900% in a month to a split-adjusted $120.75 record high in January 2021 from a $3.04 low in December 2020.
However, GME later fell most of the way back, falling to just a $9.95 intraday low last month.
Still, Gill’s re-emergence on social media earlier this month after a roughly three-year absence precipitated a fresh GameStop rally.