GameStop shares fall 39% after Roaring Kitty’s return to livestream

The return of Keith Gill, aka Roaring Kitty, to YouTube for the first time in three years did not go well for GameStop. The video game retailer’s stock ended the day at -39%.

The Wall Street outsider fueled GameStop’s meteoric 2000% stock rally in 2021.

Gill’s livestream drew over 600,000 viewers. He mostly spoke about his confidence in GameStop’s future. The stock saw its most active trading day since March 2021, with 274 million shares exchanged.

Yesterday’s frenzy followed Gill’s cryptic social media activity over the past week, which had fueled a 167% rise in GameStop shares before the earnings announcement.

His return has sparked discussions on market manipulation, with online brokerage E*Trade considering banning him. Despite these controversies, Gill’s influence remains strong.