Meme stock trader Keith Gill, aka "Roaring Kitty," failed to rally investors around GameStop with his first livestream in three years on Friday as the stock slumped 40%. GameStop shares plummeted after the video game retailer unveiled a share sale to raise up to $3 billion. Gill, meanwhile, told nearly 600,000 viewers on his YouTube livestream to bet on CEO Ryan Cohen "and his crew" while joking about memes and issuing disclaimers that retail traders could "lose it all.
Gill expressed confidence in Cohen's ability to pull GameStop through the "transformation stage" he believes the company has entered. "I’m not promising anything, but over the long term here, I think he seems like the type of guy," he said. "He seems like he has those characteristics in the way he approaches this, seems like he might be able to do this but, again, that’s not a guarantee.
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