Just over three years ago Keith Gill, known as Roaring Kitty, became a Wall Street sensation, inspiring a pack of amateur investors to buy up shares of GameStop and briefly make it one of the world’s most prized stocks. The Twitter account for Roaring Kitty started tweeting last month and people blindly ran headfirst into buying GameStop. On Thursday, a live stream on Gill’s YouTube show was scheduled, sparking an all-new frenzy of speculation.
Friday morning, GameStop seemed to be aware of the big event and decided to join in the celebration although it seems to have backfired. The video game retailer reported its earnings Friday instead of the initial plan of doing it on Tuesday, according to Bloomberg, and the earning report wasn’t that great. GameStop quarterly sales were almost 30% lower than the previous year, but that didn’t stop the company from filing that it will have millions of more shares for sale. Both bits of news didn’t sit well with investors who are selling their GameStop stock making it fall so fast that trading was halted. As of 10:17 a.m. ET, it’s lost 20% of its value from the opening bell. This drop came after GameStop share’s shot up by approximately 40% once news of his livestream being scheduled started to spread.
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Gill’s show is set to happen Friday afternoon even though he has yet to show his face since his accounts began to reactivate, and that’s left many with questions of whether he’s still running them. His activities inspired so much chaos that E*Trade and its parent company Morgan Stanley reportedly considered closing his trading account due to worries about stock manipulation. Still, it looks like Roaring Kitty is coming back in full force and Wall Street will be paying attention.
How to Watch the Return of Roaring Kitty
The Roaring Kitty YouTube channel has a scheduled live stream starting at 12 p.m. ET on Friday, June 7. So far on Thursday, the channel’s subscriber count jumped by more than 100,000 to 827,000 subscribers with many currently in chat waiting for Gill’s return.
What Will Roaring Kitty Say?
Well, that is the million-dollar question, especially for Gill whose last Reddit post on Monday showed him having a portfolio stuffed with GameStop stock that, on paper, was worth close to $300 million. His streams typically last three hours but can go more than seven hours and usually consist of him showing his “homework,” which typically means various charts on what firms are betting against the stock, Gamestop’s SEC filings, and other news releases.
Or maybe the whole stream could be just some swerve as we’re still not totally sure that Gill is behind this recent comeback. He may have a legit analysis about GameStop’s stock value or this could all just be about vibes.
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