courtesy: Reddit
Keith Gill’s first webcast in three years failed to turn investors interested in GameStop on Friday to reverse a roughly 40% drop in its price after announcing a $3 billion share sale.
Gill joked about memes and disclaimed GameStop on a livestream with over 600,000 viewers. He led an eye-popping rally in the faltering company’s shares in 2021.
On YouTube as “Roaring Kitty,” he warned viewers they could “lose it all” and that his “aggressive style of investing is almost certainly not suitable for you all.”
GameStop shares, which reported quarterly results four days early on Friday, rose over 50% the day before Gill announced the livestream.
Volatile trading in GameStop, AMC Entertainment and other stocks since Gill’s return to social media last month suggests investors still like risky trades on struggling companies.
“You post a couple of memes and screenshots, and everyone loses their minds,” Gill remarked on livestream in a headband and white sunglasses.
The stock ended at $28.22 following repeated halts before and during the planned livestream.
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