Proactive Investors - GameStop Corp (NYSE:GME) shares rallied 47% on Thursday and by 31% in aftermarkets as Keith Gill, the investor known on social media as "Roaring Kitty", said he would return to livestream.
Gill, the man behind the original meme stock rally, scheduled a broadcast on his YouTube channel for Friday at noon ET.
This news was accompanied by a screenshot posted by Gill on Reddit (NYSE:RDDT), revealing an unrealized gain of US$586 million in GameStop holdings.
Earlier this week, Gill disclosed a US$175 million investment in GameStop, which had increased to approximately US$210 million at the time.
This revelation also led to GameStop shares surging by as much as 73%.
"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," read the YouTube account's description.
Gill's channel, who has over 730,000 subscribers, will host its first live appearance since 2021, when Gill's bullish posts contributed to the initial meme stock saga.
However, analysts urge caution regarding the sustainability of this surge.
"Is whoever controlling this account doing this in your best interest or in their best interest? And, really, you should think that one through because, to me, it [is] pretty obvious whose interest it's in," commented Steve Sosnick, chief strategist at Interactive Brokers.