0
0
Keith Gill, aka “Roaring Kitty,” Returns to YouTube Livestream
Keith Gill, the investor and meme stock booster known as “Roaring Kitty,” made a highly anticipated return to YouTube with his first livestream in almost three years on Friday. The event attracted over 600,000 viewers eager to hear his insights on GameStop.
GameStop Shares Plunge Prior to Livestream
Prior to the start of the livestream, GameStop shares were down 32% on Friday morning. The drop was fueled by the company’s disclosure of plunging sales and significant losses, setting a tense stage for Gill’s appearance.
After a 26-minute delay, the livestream opened with lighthearted clips of kittens playing with yarn, creating a stark contrast to the stock market’s serious tone. Gill, sitting at his computer, finally appeared on screen, ready to address the audience.
During the stream, the stock remained highly volatile, plummeting 40% by the end of the session. Despite the downturn, Gill maintained a casual demeanor, stating, “No real game plan here, just wanted to hop in and see what’s poppin’.”
Gill shared a screen displaying his positions, revealing a $235 million loss at 1 p.m. Trading in GameStop was temporarily halted, a common occurrence during meme stock frenzies.
Gill Reassures Independence in GameStop Investment
Addressing concerns, Gill reassured viewers that his investments in GameStop were independent, stating, “Those are my positions, I’m not working with anybody else, I’m not working with hedge funds. It’s like the same stuff as last time.”
Despite the day ending with GameStop’s stock down almost 40% to $28.22 per share, Gill expressed optimism about the company’s unique position. He commended CEO Ryan Cohen’s strategies in managing the company’s relationship with retail investors.
Gill, who gained fame during the COVID-19 pandemic for his bullish analysis of GameStop on Reddit, initiated a renewed meme stock frenzy last month. His social media hiatus ended with a meme post that sparked widespread interest in GameStop’s stock once again.
GameStop’s Financial Report and Future Stock Offerings
Hours before Gill’s livestream, GameStop released its first-quarter earnings report unexpectedly. The company reported a 28% decline in net sales to $881.8 million, with a net loss of $32.3 million for the quarter.
In a separate filing on Friday, GameStop announced plans to sell up to 75 million additional shares of its common stock. The company acknowledged the extreme volatility of its stock price, citing factors beyond its control, including short squeezes.
Despite the challenges, GameStop’s stock saw a 65% increase year-to-date, reflecting ongoing investor interest in the company’s future.
Image/Photo credit: source url
