Keith Gill, also known as "Roaring Kitty," a well-known investor, conducted a livestream on Friday, appearing 25 minutes late and sporting bandages. This coincided with Gamestop shares plummeting by 39.38% after being halted multiple times during his broadcast.
The meme stock market saw Gamestop (GME) and AMC ending the day in negative territory, with drops of 39.38% and 15.2% respectively. Meme tokens associated with the stock frenzy, such as GME token and KITTY token, also experienced declines of 33.3% and 51.6% respectively. The overall meme coin market declined by 8.6% in the past 24 hours.
Gill, arriving late to the livestream, appeared on screen wearing sunglasses and bandages, possibly symbolizing the losses in his portfolio that day. While sipping on a beer, Gill spoke in a rambling manner during the stream, drawing approximately 700,000 viewers.
The meme stock influencer emphasized that he had no financial backers and that his portfolio was solely self-owned. He reiterated his strong belief in Gamestop and its future under CEO Ryan Cohen. Despite issuing disclaimers to his large audience and touching on GME's earnings, Gill did not delve into his motives for reappearing or his overall financial strategy.
As the dust settles from the turbulent events of Friday, the broader implications of Gill's livestream and the market's response will likely become clearer. While Gill's confidence in Gamestop's vision seems unwavering, the financial repercussions of his livestream highlight the delicate balance between personal conviction and market forces.
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