In A Nutshell:
Keith Gill, also known as Roaring Kitty, returned to livestreaming after years, coinciding with GameStop's shares falling 25% amid company announcements, while a Solana-based meme token surged and then declined sharply, reflecting the speculative fervor sparked by Gill's renewed presence and his disclosed $586 million position in GameStop stocks and options.Keith Gill, also known as Roaring Kitty or DeepF*ckingValue online, made his return to livestreaming after several years on Friday. Before the livestream, GameStop (GME) shares dropped 25% in the morning session following the company's abrupt release of a first-quarter earnings report and announcement of a 75 million share offering, amidst a significant surge in the stock earlier in the week. During Gill's livestream, where he outlined his bullish long-term case for GameStop, shares continued to decline and ended the day down 40%. Concurrently, the Solana-based meme token named GME, inspired by the company but not affiliated with it, saw a rapid price increase before sharply retracting gains on Friday, ultimately falling 50% from its recent highs, though still up more than three-fold for the week. Gill's resurgence on social media last month after a three-year hiatus sparked a speculative frenzy around GameStop, extending into the memecoin market with numerous tokens launching on the Solana blockchain. On Thursday, Gill disclosed in a Reddit post that his combined holdings in GameStop stocks and options were valued at $586 million at that time.
