"GameStop's Earnings Dampen 'Roaring Kitty' Anticipation, Shares Fall"

Boston Brand Media brings you the latest  - GameStop's shares see a decline as the company's earnings report puts a damper on the anticipation surrounding the actions of the popular Reddit trader known as "Roaring Kitty." Investors were eagerly awaiting the impact of "Roaring Kitty's" moves on the stock, but the earnings results have tempered expectations, leading to a drop in share prices.

KEY POINTS:

• GameStop's stocks surged by more than 30% in premarket trading on Friday but later dropped into negative territory following the company's quarterly loss announcement.
• Traders are anticipating a YouTube livestream organized by Keith Gill, also known as "Roaring Kitty," a prominent figure in the 2021 "meme stock" rally.
• Gill, whose online statements have significant market influence, is set to talk about his investment in GameStop during the livestream.

GameStop shares experienced a decline in premarket trading on Friday due to disappointing earnings, overshadowing excitement for a YouTube livestream organized by the individual who inspired the remarkable short squeeze of 2021.

Early trading hours witnessed considerable volatility, with shares dropping by 5% at 6:45 a.m. ET, erasing earlier gains that had exceeded 30%.

The video game retailer disclosed a loss of $32.3 million for the first quarter, a narrower deficit compared to the $50.5 million loss recorded in the corresponding period last year. However, its net sales of $881.8 million failed to meet analyst forecasts.

GameStop witnessed significant surges on Thursday following the announcement of a YouTube livestream by "Roaring Kitty," marking his first such event in nearly four years.

The trader, recognized as Keith Gill, played a pivotal role in the renowned "meme stock" rally of 2021. Renowned for his extensive livestreams and contributions to the well-known WallStreetBets forum.

Boston Brand Media also found that the livestream is set to commence at noon ET on Friday, with nearly 14,000 YouTube accounts already queued up by 6 a.m. ET.

Gill is anticipated to delve into his investment in GameStop following the disclosure of a screenshot of his portfolio on Monday night. However, CNBC could not authenticate his GameStop holdings or portfolio.

Gill, previously employed as a marketer for Massachusetts Mutual Life Insurance, was portrayed in the 2023 film "Dumb Money" and provided testimony during congressional hearings on brokers' practices and the gamification of retail trading.

According to LSEG data, GameStop shares have surged by 166% year-to-date.

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Source: CNBC‍