Roaring Kitty's $586M Stake Livestream Sparks 19% Drop in GameStop Stock

Keith Gill, known as 'Roaring Kitty,' scheduled a live YouTube stream for June 7, 2024, at 12:00 PM EST. This announcement led to significant volatility in GameStop (GME) stock, which surged 47% on June 6, 2024, and saw a 275% increase since May 1, 2024. Gill's stake in GameStop is now worth $586M. However, on the day of the stream, GME stock experienced multiple trading halts due to volatility, including an 8th halt just minutes before the scheduled start of the stream. At one point, 500,000 people were waiting for the livestream, but Gill did not appear as expected, leading to further market instability. GME stock was down 19% today as of the latest update.