Roaring Kitty’s GameStop live stream: What was said ...

Keith Gill, aka Roaring Kitty, claimed he didn’t have an agenda or game plan as the GameStop (NYSE:GME) 'meme-trader' began his live stream broadcast.

And, indeed, in his first such event since 2021, there was no headline message or manifesto for his fellow meme-traders.

Instead, ‘jokingly’ wearing an arm sling and bandages on his face, he larked about a bit and answered some questions from the comments.

Over the course of the 50-minute (ish) live stream, there were a few small ‘takeaways’.

• He’s confident in GameStops reinvention

• He says ‘stage two of his investment thesis’ is about the company's new management and strategic direction rather than its legacy business.

• He believes Wall Street has “an overemphasis” on the retail business, which describes as its “legacy business”.

• He’s solo. Gill claimed he is not working with any hedge funds or other institutional investors.

• He was broadcasting without a lawyer. Answering a viewer’s question, Gill confirmed that he did not have a lawyer, but joked that maybe he should.

• GameStop is his only trade. Gill told viewers that his recently publicised positions in GameStop are all that’s in his portfolio.

• He said his ‘aggressive’ trading style ‘might not be suitable for everyone’.

As 'Roaring Kitty' conducted his live stream the GameStop share price was falling, driven largely by separate and more tangible news - with the company launching a '$3 billion' share sale and reporting disappointing first-quarter sales from its retail business.

Gill, who played a significant role in the original meme stock rally with his bullish comments on social media, had not previously live-streamed since 2021.

Roaring Kitty’s various recent social media posts have, however, been a significant factor in GameStop volatile trading.

Earlier this month, Gill posted a screenshot on Reddit that showed a $116 million position in the video game retailer.

The post revealed that Gill holds 5 million shares with an average cost basis of $21.27 each, plus 120,000 call options worth $65.7 million, set to expire on June 21.

Gill’s return to social media, after a three-year hiatus, has reignited interest in meme stocks. His previous posts significantly influenced the retail trading frenzy around GameStop in 2021.

The Reddit post followed a series of meme videos posted to X (formerly Twitter) a number of weeks ago, which prompted a resurgence of so-called ‘meme trading’ through the month of May.