Keith Gill, also known as “Roaring Kitty,” made a long-awaited appearance on a livestream on his YouTube channel sporting a bandage wrapped around his head, sunglasses, and a beer. He confirmed that he is behind the posts on his social media accounts and that the screenshots of his portfolio are his own. Gill had previously communicated solely through memes and gifs, leaving it uncertain if it was actually him behind the posts.
During the livestream, GameStop shares slid and were halted several times for volatility. The livestream lasted around 50 minutes, shorter than his previous streams that went on for hours. Gill commented on GameStop’s transformation phase under CEO Ryan Cohen, expressing his belief in Cohen’s ability to lead the company. GameStop surprised investors by moving forward its first-quarter earnings report to Friday from the following Tuesday. The video game retailer recorded a loss of $32.3 million, slightly better than the previous year.
After the earnings report, Gill cautioned traders to reach their conclusions and keep an eye on developments. He emphasized the importance of not blindly following anyone’s advice, including his own. GameStop shares experienced a 41% decline on Friday, marking the stock’s worst day since February 2021. The stock has been subject to wild swings in recent weeks, reminiscent of the meme stock craze following Gill’s return to social media in May.
Gill also addressed reports that E*Trade may remove him from its platform and expressed concerns about accessing his account each morning. He provided an update on his portfolio, revealing that he had not sold any of his 5 million GameStop shares or exercised his 120,000 call options since his last update. Despite the stock’s losses during the trading session, his GameStop holdings were still worth over $300 million, down about $200 million from the previous value.
Overall, Gill’s return to social media and subsequent livestream brought much attention to GameStop and his trading activities. While expressing support for GameStop’s transformation under Cohen, Gill encouraged traders to think independently and stay informed about market developments. The stock’s volatile performance following his appearance underscores the impact of social media influencers on market trends and investor sentiment.
