AMC Entertainment Holdings Inc

NYSE:AMCUnited States

By Patricia Kowsmann

GameStop (GME): The meme stock jumped roughly 30% in premarket trading. Late Thursday, Keith Gill's Reddit account shared a new portfolio update suggesting that the investor hasn't sold any of his position since his update on Sunday. Gill, a.k.a. "Roaring Kitty," has scheduled a livestream video on YouTube for around noon ET.

By Connor Smith and Rupert Steiner GameStop and other meme stocks were soaring again on Thursday after the Roaring Kitty YouTube channel scheduled a livestream. GameStop stock was up 33% to $42.06 and climbing. AMC Entertainment shares were up 13%. Koss stock was up 13%. The YouTube channel, which Keith Gill used in 2020 and 2021 to discuss his bullish GameStop thesis, posted a stream that is scheduled to go live on Friday at noon ET. The featured image includes a Game of Thrones reference where a character uses explosives to destroy enemies who were organizing a trial. The implication may be that the message Gill plans to share is "explosive." GameStop CEO Ryan Cohen also appears in the thumbnail, but he is photoshopped to look like the Doctor Manhattan character from Watchmen. A post on the Roaring Kitty X account in May, after a hiatus that began in 2021, sent meme stocks flying for a while. Then a Reddit post on Gill's DeepF -- Value account on Sunday that showed a screenshot of a multimillion-dollar position in GameStop reignited the rally. None of the posts have featured fresh updates from Gill confirming he is behind them. That would change if he streams on Friday. The Wall Street Journal reported earlier this week that E*Trade and parent company Morgan Stanley were debating whether Gill's activity was manipulation. Morgan Stanley employees found large options bets made by Gill on the platform before the Roaring Kitty postings. The meme-stock rally was pacing for a lackluster end to the week before the YouTube update. Meme stocks are companies that have gained popularity among retail investors through social media. Their valuations not defined by traditional financial attributes such as earnings or sales growth, but instead attention. Write to Connor Smith at connor.smith@barrons.com and Rupert Steiner at rupert.steiner@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications The Wall Street Journal reported earlier this week that E*Trade and parent company Morgan Stanley were debating whether Keith Gill's activity was manipulation. An earlier version of this article incorrectly identified the platform as Charles Schwab. (END) Dow Jones Newswires June 06, 2024 16:38 ET (20:38 GMT)