GameStop Meme Lord Reveals Himself

In a dramatic return to the spotlight, Keith Gill, the famed “meme lord” behind the wild movements of GameStop stock, made his first public appearance in three years. Known online as “Roaring Kitty,” Gill surprised fans and traders alike with a livestream on his YouTube channel, sparking renewed interest and volatility in GameStop shares.

Adding to the day’s surprises, GameStop unexpectedly moved its first-quarter earnings announcement to Friday, reporting a loss of $32.3 million, an improvement from the previous year’s $50.5 million loss. However, sales dropped to $0.9 billion from $1.2 billion year-over-year, reflecting ongoing challenges for the video game retailer.

Gill, sporting a distinct look with long hair, a head bandage, white sunglasses, a sling, and a beer, appeared against the backdrop of Yahoo! Finance’s GameStop ticker page. Addressing his followers, he confirmed his identity and his continued involvement in the stock, putting to rest any doubts about the authenticity of his recent social media activity.

During the 50-minute livestream, GameStop shares experienced significant turbulence, with trading halted multiple times due to volatility. The stock eventually closed down more than 39%, marking its worst day since February 2021. This steep decline came amid heightened speculation and trading activity following Gill’s reemergence on social media platforms in May.

Gill provided insights into his current stance on GameStop, expressing cautious optimism about the company’s transformation under CEO Ryan Cohen. Despite his confidence in Cohen’s leadership, Gill advised traders to make their own informed decisions, emphasizing the importance of independent judgment in stock trading.

Gill also addressed the ongoing speculation about his status on E*Trade, hinting at potential issues with his account access. Despite the market’s volatility and his personal uncertainties, Gill disclosed that he has not sold any of his 5 million GameStop shares or exercised his 120,000 call options, maintaining a significant stake valued at over $300 million as of mid-day Friday. This value, however, represented a sharp decline of approximately $200 million due to the day’s trading losses.