Thursday, November 28
    News Junkie Paradise – Whatfinger News - More news daily than any other news site on Earth - CLICK HERE

    Roaring Kitty Returns: Keith Gill’s Livestream Sparks GameStop Frenzy

    nephilaBy Business And Money 5 Mins Read

    Still fighting the powers that be. Can the man hang on and still buck the establishment?

    Keith Gill, famously known as “Roaring Kitty,” made a highly anticipated return to the spotlight with a livestream on his YouTube channel on Friday. Gill, who gained notoriety during the GameStop stock surge of early 2021, reappeared after a long hiatus, sporting a distinct look that included long hair, a thick head bandage, gaudy white sunglasses, a sling, and a beer.

    Broadcasting against a background showing Yahoo! Finance’s GameStop stock ticker page, Gill greeted his audience warmly. “It’s been a few years now. I hope y’all are good,” said Gill, a native of Brockton, Massachusetts. “This is me, by the way. I see a lot of question marks — ‘Is he back? Is it someone else?’ I mean, can you tell it’s me now?”

    During the livestream, Gill confirmed his activity on social media platforms X and Reddit, asserting that the posts and portfolio screenshots were indeed his. “These are my positions. I’m not working with anyone else. I’m not working with hedge funds,” he clarified. Until this livestream, Gill had communicated primarily through memes, gifs, short videos, and portfolio screenshots, leaving many to speculate about his continued involvement.

    The impact of Gill’s appearance was immediate, with GameStop shares experiencing significant volatility. The stock was halted multiple times during the livestream, which lasted about 50 minutes—considerably shorter than his usual marathon sessions that spanned several hours.

    “What can I say about GameStop? I mean, the funny thing is that I have a lot of the same feelings about everything,” Gill remarked. “They’re in the transformation stage here. … I feel like I see enough. I believe [CEO Ryan Cohen] might be able to do it.” Despite his optimistic outlook, Gill urged traders to make their own judgments. “It remains to be seen. You should keep your eye on stuff, too, reserve the right to change your mind just like I do. Don’t follow anyone blindly,” he advised.

    Coinciding with Gill’s livestream, GameStop advanced its first-quarter earnings report to Friday from the initially scheduled date of the following Tuesday. The company reported a loss of $32.3 million, an improvement from the $50.5 million loss in the previous year. However, first-quarter sales declined to $0.9 billion from $1.2 billion the year before.

    Following these developments, GameStop shares plummeted over 39% on Friday, marking the worst trading day for the stock since February 2021. The stock has been notably volatile, reminiscent of the meme stock frenzy triggered by Gill’s return to social media in May.

    During the livestream, Gill also addressed rumors regarding E*Trade potentially removing him from its platform, sharing his daily uncertainty about account access. He provided an update on his portfolio, revealing that he had not sold any of his 5 million shares or exercised his 120,000 call options since his last update on Thursday. As of mid-day Friday, his GameStop holdings were valued at over $300 million, down approximately $200 million due to the stock’s sharp decline during the trading session.

    Gill’s reemergence has once again captivated the meme stock community, igniting discussions and trading activity around GameStop. His steadfast belief in the company’s potential under CEO Ryan Cohen’s leadership continues to resonate with his followers, despite the turbulent market response. As the saga unfolds, traders and investors alike will be watching closely to see how Gill’s influence and GameStop’s transformation progress in the coming months.

    Major Points:

    • Keith Gill, known as “Roaring Kitty,” made a much-anticipated return with a livestream on his YouTube channel.
    • Gill confirmed his activity on social media platforms, asserting that the posts and portfolio screenshots were his own.
    • GameStop shares experienced volatility during the livestream, which lasted about 50 minutes.
    • Gill expressed optimism about GameStop’s transformation under CEO Ryan Cohen but advised traders to make their own judgments.
    • GameStop’s first-quarter earnings report was advanced to Friday, revealing a loss improvement but resulting in a significant decline in stock value.

    James Kravitz – Reprinted with permission of Whatfinger News

    Keep Reading

    Add A Comment

    Leave A Reply