GameStop shares surged during Thursday's session after online meme stock influence Keith Gill, also known as "Roaring Kitty", teased a livestream event on Friday.
The stock gained 47%, the largest percent increase since May 14, 2024, when it rose 60.1% and capping a rally that spans five of the past six days.
Investors will be able to tune into the "Roaring Kitty" YouTube channel Friday at 12:00 p.m. eastern. This is the first time Gill has broadcast in about three years.
The struggling video game seller's shares have seen significant volatility since May when when Gill returned to social media platform X, formerly Twitter, also after a three-year hiatus.
In recent weeks, the meme stock spiked to an all-time high closing price of $48.75, according to data from Dow Jones. Those gains were followed by the stock price plunging in the following days to $18.32 on May 23.
GAMESTOP SHARES SURGE AFTER 'ROARING KITTY' POST
GameStop's mid-May rally was curbed after the video game retailer offered an update on its business and announced plans to sell as many as 45 million shares of common stock.
The company said that its first quarter net sales will be in a range of $872 million to $892 million, with a net loss in a range of $27 million to $37 million.
GameStop said that it "intends to use the net proceeds from the Offering, if any, for general corporate purposes, which may include acquisitions and investments in accordance with our investment policy."
GAMESTOP, AMC SHORT SELLERS DOUBLE DOWN EVEN WITH STOCK SWINGS
GameStop shares surged over 20% higher on Monday after Gill's profile on Reddit returned and displayed a post showing a $116 million bet on the company's stock after a three-year gap.
He also posted a shot of an card from the board game Uno, known to signal a reversal.
Gill was a key figure in the 2021 market rally around GameStop and other so-called meme stocks that was fueled by individual investors on Reddit's wallstreetbets forum.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business' Aislinn Murphy and Reuters contributed to this report.
