Stock influencer Keith Gill’s first livestream in three years failed to generate enough investor interest in GameStop (GME.N) on Friday, unable to reverse a nearly 40% decline in the retailer’s stock following its announcement of a share sale to raise up to $3 billion.
During the livestream, which attracted over 600,000 viewers, Gill, widely known as “Roaring Kitty,” joked about memes and included various disclaimers while discussing GameStop. Despite warning viewers about the risks and stating that his investing style may not be suitable for everyone, the stock did not rebound.
GameStop’s shares had surged nearly 50% the day before Gill’s livestream announcement, which also coincided with the company’s early quarterly results release.
The volatile trading in GameStop, along with AMC Entertainment (AMC.N) and other stocks, following Gill’s return to social media last month, suggests that some investors still have an appetite for risky trades on struggling companies.
