Shares of GameStop (GME.N) skyrocketed almost 50% on Thursday after the prominent online stock influencer known as “Roaring Kitty” announced a livestream on YouTube set for Friday.

This surge continues a trend of volatile trading for the struggling videogame retailer, which began last month when the influencer, Keith Gill, re-emerged on social media platform after a three-year break. On Monday, GameStop shares saw a more than 20% increase after Gill’s Reddit profile resurfaced with a post revealing a US$116 million investment in the stock, marking his first activity in three years.

Gill was a significant figure in the 2021 meme stock phenomenon, which saw individual investors on Reddit’s wallstreetbets forum drive up the prices of GameStop and other stocks. His recent return has reignited interest in GameStop and other stocks favored by social media traders.

The renewed interest has also affected other popular meme stocks. AMC Entertainment (AMC.N) jumped 12% on Thursday, while headphone manufacturer Koss (KOSS.O) saw a 15% rise.

Gill’s influence dates back to 2021, where he amassed a dedicated following of traders who propelled GameStop’s stock to unprecedented heights, causing substantial losses for hedge funds betting against the company. Despite facing significant challenges due to declining sales and a shift towards online gaming purchases, GameStop’s stock has performed remarkably well in 2024, closing Thursday at US$46.55 per share, up over 160% for the year. In 2021, the stock hit an intraday high of nearly US$121 before plummeting almost 90% within the following five days.

Gill has not yet responded to requests for comment regarding his upcoming livestream.

The 2021 meme stock craze, which saw significant involvement from individual investors, prompted an investigation by the U.S. Securities and Exchange Commission. The SEC concluded that marketplace systems functioned effectively during the surge.