Gill’s Livestream Pulls 600K Viewers Amid GameStop Surge

Keith Gill, also known as Roaring Kitty, reemerged on YouTube after a three-year hiatus, attracting over 600,000 viewers to his livestream. Gill, a prominent figure in the meme stock phenomenon, discussed his support for GameStop, the video game retailer whose stock has been highly volatile since his return to social media last month.

At the start of his stream, Gill expressed his joy at being back on YouTube, drawing in as many as 630,000 viewers. However, GameStop’s stock, which initially surged, began to decline, trading down over 36% at $29.47 by 1:45 p.m. Eastern Time.

Despite the stock’s fluctuations, Gill, who holds a $160.4 million position in GameStop, reaffirmed his belief in the company. He sees GameStop’s transformation from a traditional retailer to a more modern market player as a key investment opportunity, but he warned viewers of the risks involved, describing it as “very risky business.”

Gill’s statements come amid reports that E-Trade, the online brokerage, has contemplated removing him from its platform due to concerns about stock manipulation. Gill addressed these rumors during his livestream, acknowledging the headlines but questioning whether his positions on E-Trade would remain active.

GameStop’s market capitalization stood at $10 billion as of Friday afternoon, reflecting the continued interest and volatility surrounding the stock. Gill’s return to social media last month had initially boosted GameStop’s shares, but they have since fluctuated widely.

E-Trade, owned by Morgan Stanley, has reportedly discussed Gill’s potential impact on the stock, weighing the risk of backlash from his online followers against the possibility of stock manipulation. As of now, Gill’s status on the platform remains uncertain.