Things change so quickly in the world of finance. Minutes after my recent piece on GameStop’s (NYSE:GME) rally today was published, we got an update on today’s big news. I reported that the Roaring Kitty YouTube channel, run by meme legend Keith Gill, had been updated. However, we just received news that Keith Gill is indeed scheduling a livestream for tomorrow, June 7. This announcement has led GME stock to rocket even higher, surging over 40% at the time of writing.
It turns out that speculators were onto something, and those who noticed this update first have clearly been rewarded by piling into GME stock today. With this livestream expected at noon, investors will certainly be putting forward questions and thoughts, with the commentary alone likely to be worth the (free) price of this stream.
Thousands of people are already waiting in the livestream, and discussion is picking up among investors. Let’s dive into what we know so far and what we might expect to hear tomorrow.
GME Stock Moves Even Higher on Confirmation of Livestream Tomorrow
For the self-described “apes” and “degenerates” following the GameStop saga, it’s been a wild and wacky three-plus years. Since the first short squeeze, which was essentially put to an end by regulators and exchanges that froze trading due to settlement issues, we could be getting a glimpse at what the next short squeeze might look like or how Gill envisions this rally going this time around.
I’ve previously watched Gill’s Roaring Kitty account. Mr. Gill’s fundamental cases for various stocks he focused on for deep value were solid, and I’d expect to hear his case on why GameStop still fits this description.
He has been under fire from regulators and even E*Trade, which is run by Morgan Stanley (NYSE:MS), with news that the brokerage platform is looking at kicking him off the trading platform altogether. Accordingly, it’s going to be interesting to see how much of the discussion is scripted and what sort of off-the-cuff remarks are made.
Rest assured that this will be a well-covered topic of discussion tomorrow. For what it’s worth, I’ll be tuning into the livestream and suggest that any investor with a stake in this company (on either side) do the same.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
