New York, U.S. – Keith Gill, known as “Roaring Kitty,” has caused quite a stir with his recent livestream on YouTube. As GameStop shares took a dive, Gill’s stream attracted over 400,000 viewers eagerly awaiting his insights and updates on his positions. This event follows Gill’s significant impact on the GameStop meme stock frenzy during the pandemic, documented in the movie “Dumb Money” released in 2023.
Gill’s decision to livestream comes after GameStop unexpectedly released its fiscal first-quarter earnings report ahead of schedule, revealing a net sales decline of 29% from the previous year. Despite the drop in sales, the company announced plans to sell additional shares on top of a previous sale that raised over $900 million. This news added more anticipation to Gill’s livestream and the future of GameStop shares.
Gill’s investments in GameStop have generated significant attention and profit, with his positions showing a potential paper profit of $375 million as of Thursday. However, with GameStop’s shares plunging on Friday morning, there is some uncertainty surrounding Gill’s potential gains. His call options, with a strike price of $20 and expiring in June, could significantly increase his stake in GameStop if exercised.
During the livestream, Gill emphasized that he does not have any institutional backers and that his positions in GameStop are solely his own. Despite speculation from individuals like Andrew Left about potential support from big investors, Gill reiterated his independence in managing his investments. This transparency adds an interesting layer to his livestream and the ongoing GameStop saga.
With GameStop shares experiencing volatility and other meme stocks taking a hit during Gill’s livestream, the market continues to closely monitor his moves and the impact on the stock prices. As Gill navigates the challenges and opportunities in the market, his livestream serves as a focal point for retail traders and investors alike interested in the GameStop phenomenon and its future trajectory.