GameStop surges as 'Roaring Kitty' schedules YouTube return

BlackBerry

07/06/2024 09:38

June 7 (Reuters) - GameStop's  GME.N  shares surged more
than 30% in premarket trading on Friday as investors geared up
for the YouTube return of "Roaring Kitty", the stock influencer
whose recent social media posts have sparked a rally in
so-called meme stocks.
    The video game retailer's shares jumped 35% to $62.50 in
heavy volume.
    "Roaring Kitty", whose real name is Keith Gill, returned to
social media platform X in mid-May, after a three-year hiatus,
sparking a rally in GameStop's shares.
    The rally cooled before the stock shot up again on Thursday
when the "Roaring Kitty" channel on YouTube showed an upcoming
livestream scheduled for 12 p.m. ET (1600 GMT) on Friday.
    Gill was a key driver of the rally in 2021 in GameStop and
other so-called meme stocks that was fueled by individual
investors on Reddit's wallstreetbets forum.
    The shares of other meme stocks -- including AMC
Entertainment  AMC.N , U.S.-listed shares of BlackBerry  BB.N ,
Koss Corp  KOSS.O  -- rose between 6.1% and 13% on Friday.

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Savio
D'Souza)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))