Roaring Kitty; Getty Images; Alyssa Powell/BI
Keith Gill on Friday hosted his first livestream in years, though it didn’t stem the stock’s big decline.
Gill reiterated his bullish view on GameStop, pinning hopes on CEO Ryan Cohen’s turnaround strategy.
The stock was halted numerous times during the stream. Here’s what Gill talked about.
Keith Gill, the trader better known by his online persona Roaring Kitty, showed up to his long-awaited YouTube livestream nearly 30 minutes late, sporting fake bandages, sunglasses, and his arm in a sling.
The trader at the center of GameStop’s massive rise since late 2020 didn’t have much news to share with the nearly 650,000 viewers who tuned in at the stream’s peak, though he revealed his E-Trade portfolio toward the end of the talk.
No surprise — his only position was GameStop stock and options.
GameStop stock plunged as much as 41% in volatile trading as Gill hit his stride during the livestream, which was his first in over three years.
The stock experienced multiple trading halts for volatility and traded more than 200 million shares, about 650% higher than its 65-day average volume of 31 million shares.
After rambling about memes and pouring a beer while the stock was halted, Gill reiterated his bullish view on GameStop stock.
“The funny thing is that I have a lot of the same feelings about everything,” Gill said.
His account snapshot showed a $236 million paper loss on Friday, yet the trader seemed unfazed and giddy throughout the stream, with the live chat awash in comments praising his “diamond hands.”
Much of Gill’s bullish view on the video-game retailer hinges on GameStop CEO Ryan Cohen’s turnaround strategy. Cohen took over the company late last year. He cofounded Chewy and helped grow the pet-focused e-commerce platform into a multibillion-dollar company.
“If you just factor in that you don’t think Cohen is a doofus,” Gill said, adding: “And you don’t and you actually think not only is he not a doofus but he’s extremely talented and that he has the capability to turn this around.”
He added: “It becomes kind of a bet on the…
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