GameStop Stock Rises as 'Roaring Kitty' Gears Up for Live Stream
GameStop's shares are experiencing an upward trend this Thursday afternoon, nearing the peak values observed earlier in the week during the second surge instigated by 'meme' stock trader Keith Gill, also known as Roaring Kitty. The surge saw prices fluctuating between $35 and $40. This surge is happening in anticipation of Gill's YouTube live stream event scheduled for Friday.
A Closer Look
Gill, who some Wall Street analysts (including Citron Research) speculate might be receiving assistance from others in the GameStop frenzy, recently uploaded a new live stream on his YouTube channel. The title of the live stream event is "I'll Wager with you. I'll make you a bet." and it's set to take place on Friday at 1200 ET.
Roaring Kitty has included a comprehensive disclaimer on his YouTube live stream event: "The Roaring Kitty channel and live streams are for educational and entertainment purposes only. I don't provide personal investment advice or stock recommendations during the stream."
The Second Surge
The second surge was sparked off on Sunday when Gill shared a screenshot of his ETrade account, displaying GME stocks worth $115.7 million, $65.7 million in GME short-term options, and $29 million in cash.
However, there are rumors that ETrade may take action against Gill, and at least one securities regulator is currently investigating him for potential stock manipulation.
Wrapping Up
This situation raises several questions about the power of individual investors and the potential for market manipulation. What are your thoughts on this matter? Do you think Gill's actions are justified or do they cross a line? Share your thoughts and this article with your friends. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.
