Revealed: Anonymouse figure behind GameStop's stock fluctuations after a three-year hiatus
The popular meme stock figure, also dubbed "Roaring Kitty," made a much-delayed appearance on a live stream on his YouTube channel on Friday.
He had long hair, a considerable bandage around his head, garish white sunglasses, a sling, and a beer in hand. Gill broadcasted against a backdrop of Yahoo! Finance's GameStop stock ticker page.
"It's been several years now. I hope you're all well," said Gill, who hails from Brockton, Massachusetts. "Here I am, by the way. I see a lot of question marks - 'Is he back? Is it someone else?' Can you tell it's me now?"
Gill affirmed that he is the one behind the posts on his x and Reddit accounts and that the screenshots he has put up on the latter platform are of his own portfolio. "These are my holdings. I'm not collaborating with anyone else. I'm not collaborating with hedge funds," he clarified.
Gill had been keeping in touch solely through posting memes, GIFs, short video clips, and screenshots of his portfolio, making it uncertain if it was indeed Gill behind the social media posts.
During the live stream, GameStop's stock prices tumbled and were halted multiple times due to volatility. This live session lasted approximately 50 minutes, shorter than his earlier live streams that usually went on for several hours.
Gill gave his thoughts on GameStop, stating, "To be honest, I have similar feelings about everything. They're in the process of transformation over here... I believe (CEO Ryan Cohen) might be able to pull it off."
In a surprising move, GameStop brought forward its first-quarter earnings report to Friday from next Tuesday. The video game retailer reported a loss of $32.3 million, marginally better than the $50.5 million loss in the preceding year. First-quarter revenue dropped to $0.9 billion, down from $1.2 billion the prior year.
Gill urged caution, stating, "You should keep an eye on things. Reserve the right to change your mind, just like I do. Don't blindly follow anyone."
On Friday afternoon, shares of GameStop fell by around 41%, making it its worst day since February 2021. The video game stock has experienced dramatic fluctuations in recent weeks similar to the meme stock frenzy after Gill's return to social media in May.
Gill also addressed rumors that E*Trade is thinking about removing him from their platform and remarked that he signs in daily, wondering if he'd be able to access his account.
He revealed another update on his portfolio, which showed he hadn't sold any of his 5 million shares or exercised his 120,000 call options following his last update on Thursday. His GameStop holdings total was worth more than $300 million as of mid-day Friday, down approximately $200 million after the sharp losses during the trading session.
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Gill discussed his investment strategy in the context of GameStop's business, stating, "I believe in the potential transformation of GameStop and CEO Ryan Cohen's ability to lead this change, but I urge everyone to stay cautious and reserve the right to change their minds."
During the Q&A session of the live stream, a viewer asked Gill about his approach to investing in the business sector, to which he replied, "For me, it's crucial to back businesses with strong fundamentals and growth potential, and I always strive to make wise investments."
