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Keith Gill, the man behind the GameStop stock frenzy known by some as “Roaring Kitty” or “DeepFuckingValue” on social media, returned to his YouTube livestream on Friday for the first time in years.
Before this, GameStop (GME) shares plummeted 25% during the Friday morning session after the company quickly released its first-quarter earnings report and announced a 75 million share offering, following a significant rise in stock value earlier in the week. In addition, multiple halts on trading Gamestop occurred while Gill spoke to roughly 650,000 people watching his livestream.
Earlier this week, Gill disclosed in a Reddit post that his stock and options position was valued at $586 million, further fueling the speculative interest in GameStop. He also revealed his current holdings, which showed him down approximately $200 million.
During Gill’s livestream, shares continued to decline as he presented his long-term bullish outlook on GameStop. By the end of the day, the shares had dropped 40%. Simultaneously, the Solana-based meme token GME, inspired by the company but unaffiliated with it, nearly doubled in value in less than a day before sharply losing ground on Friday. Despite a 50% drop over a few hours, the token remained more than three times higher for the week.
Gill’s return to social media last month, after a three-year hiatus, triggered a speculative frenzy for GameStop. This enthusiasm spilled over into the memecoin market, leading to the launch of several opportunistic tokens on the Solana blockchain. The excitement surrounding his reappearance amplified market volatility, impacting both stock and crypto markets.