Keith Gill, also known as Roaring Kitty, made a long-awaited appearance on a livestream on his YouTube channel. Gill confirmed that he is behind the posts on his X and Reddit accounts, as well as the screenshots of his portfolio. He emphasized that he is not working with anyone else or with hedge funds, dispelling any rumors that had been circulating. In the livestream, Gill expressed his thoughts on GameStop’s current situation and CEO Ryan Cohen’s potential to lead the company through its transformation stage.
GameStop shares experienced volatility during Gill’s livestream and were halted multiple times. Gill addressed the recent financial results of GameStop, including a first quarter loss of $32.3 million and a decline in sales. Despite these numbers, Gill expressed faith in Cohen’s ability to turn things around but reminded traders to reach their own conclusions. He also warned against blindly following anyone and encouraged individuals to stay informed and be willing to change their minds as new information arises.
Shares of GameStop plummeted more than 39% after Gill’s livestream, marking its worst day since February 2021. This significant drop in stock price led to a decrease in the value of Gill’s GameStop holdings, which were worth over $300 million at one point. He also discussed reports that E*Trade is considering removing him from its platform, highlighting the ongoing challenges he faces related to his investments in GameStop. Despite the losses, Gill revealed that he had not sold any of his 5 million shares or exercised his 120,000 call options as of the most recent update.
Gill’s livestream lasted around 50 minutes, much shorter than his previous streams that went on for several hours. He shared his thoughts on GameStop’s current situation and Cohen’s leadership potential. Although GameStop’s financial results showed a loss and decline in sales, Gill remains optimistic about the company’s future. He emphasized the importance of reaching individual conclusions and not blindly following others. The stock’s sharp decline after the livestream contributed to a significant decrease in the value of Gill’s GameStop holdings, underscoring the volatile nature of meme stocks and the risks involved.
Gill’s appearance on the livestream followed his return to social media in May, which reignited interest in GameStop and led to wild price swings. Despite facing challenges related to his investments, including the possibility of being removed from trading platforms, Gill remains committed to his positions in GameStop. He continues to provide updates on his portfolio and shares his insights on the stock and the company’s future prospects. The livestream and subsequent market reaction highlight the ongoing influence and impact of meme stock traders like Gill on the market and the importance of conducting thorough research and making informed decisions when investing in volatile stocks.
