Keith Gill Updates – GME Stock Plunges and Stalls During Long-Awaited Roaring Kitty YouTube Live Stream

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Gill and GameStop

In September 2019, Gill shared a screenshot on the r/wallstreetbets subreddit, revealing a long position in GameStop valued at approximately $53,000, per The bell.

Through posts on Reddit and videos on YouTube, he presented analyses, combining fundamental and technical aspects, stating that the stock was undervalued, according to an archived file Reuters report.

This position consisted of 50,000 shares and 500 call options, with the Independent reported. In one of his YouTube videos, Gill stressed that his arguments did not constitute financial advice.

“I do not provide personal investment advice or stock recommendations during the stream,” he said.

What to know about Keith Gill (Roaring Kitty)

Keith Gill, 37, is an American financial analyst and investor recognized for his contributions to the r/wallstreetbets subreddit.

His analysis of GameStop (NYSE:GME) stock and the resulting investment gains were influential in the January 2021 GameStop short squeeze and triggered a subsequent surge in retail stock trading.

They were shared on Reddit under the username DeepF*****gValue (DFV), as well as on YouTube and X/Twitter under the handle Roaring Kitty.

Gill’s investment initially worth $53,000 soared to nearly $50 million on January 28, 2021, driven by rising share values.

Inside the stumble of today’s stocks

In pre-market trading, GameStop shares plunged more than 15% after the company released a more significant than anticipated decline in sales.

The video game retailer reported that its net sales fell to $881.8 million in the quarter ended May 4, down from $1.24 billion a year earlier, according to the report.

This performance fell short of Wall Street estimates, with two analysts predicting sales ranging between $900 million and $1.09 billion, according to FactSet.

While GameStop’s net loss narrowed to $32.3 million for the quarter, compared with $50.5 million a year earlier, the company also revealed plans to generate more than $3 billion through the sale of up to 75 million shares.

This decision came just days after raising nearly $933.4 million from the sale of 45 million shares, according to the New York Post Office.

More about the Reddit post

GameStop shares had a 21% increase on Monday following the Reddit post attributed to Gill, as reported by Yahoo Finance.

The post featured a screenshot indicating a $175 million investment in GameStop.

The stock initially soared 75% at the market open, then retraced gains and closed at $28.

Another post on Reddit detailed purchasing 5 million shares of GameStop at an average price of $21.274, valued at $115.7 million based on Friday’s closing price of $23.14.

The screenshot also revealed ownership of 120,000 options expiring on June 21, worth $65.7 million, according to Friday’s close.