GameStop Trading Halts Once More Following Roaring Kitty Livestream Revival.
Approximately three years ago, Keith Gill, also known as Roaring Kitty, gained significant attention on Wall Street and inspired a group of amateur investors to purchase and drive up GameStop’s shares, briefly transforming it into one of the most sought-after stocks globally. His tweets last month led to a blind rush to buy GameStop, with a scheduled live stream on Gill’s YouTube show triggering a new wave of speculation.
GameStop appeared to anticipate the major event and decided to participate in the celebration, even though it may have backfired. The video game retailer released its earnings report on Friday instead of the originally planned Tuesday, revealing disappointing results. Despite a nearly 30% decrease in quarterly sales compared to the previous year, GameStop announced its intention to release millions more shares for sale. These developments did not sit well with investors, leading to a rapid decline in GameStop’s share price and a temporary halt in trading. By 10:17 am ET, the stock had plummeted significantly after initially surging about 40% at the opening bell.
### How to watch Roaring Kitty’s comeback
The Roaring Kitty YouTube channel scheduled a live stream to begin at 12 p.m. ET on Friday, June 7th. As of Thursday, the channel had 827,000 subscribers eagerly awaiting Gill’s return.
Gill’s recent activities have stirred up such chaos that E*Trade and its parent company, Morgan Stanley, reportedly contemplated actions due to concerns about potential stock manipulation. Nevertheless, it appears that Roaring Kitty is making a strong comeback and attracting attention from Wall Street.
### What will Roaring Kitty say?
This question remains pivotal, particularly for Gill, who has showcased a portfolio filled with GameStop shares valued at nearly $300 million on paper. His streams typically last for three hours but can extend beyond seven hours, often featuring his “homework,” which typically includes various charts showcasing companies betting against stocks, GameStop’s SEC filings, and other press releases.
It remains uncertain if Gill is truly behind this recent resurgence, raising the possibility of a legitimate analysis on GameStop’s stock value or a more speculative approach driven by vibes.
