The leader of the “GameStop short squeeze event” that bloodied Wall Street – internet celebrity analyst Keith Gill (Roaring Kitty), lacked surprises in his live broadcast last night, coupled with disappointing financial reports, causing GME’s decline to expand to 40%, and related meme coins GME and KITTY also plummeted accordingly.
Financial report disappointment, Roaring Kitty’s live broadcast lacking content, GME plunges 40%
SkyBridge Capital founder: GameStop should buy Bitcoin
GME, Roaring Kitty-related meme coins plummet
This week, the leading figure of the 2021 GameStop short squeeze event – internet celebrity financial analyst Keith Gill (alias “Roaring Kitty”), announced a live broadcast at 12 noon Eastern Time on Friday, causing GME stock to skyrocket and become the focus of the market.
Although Gill’s live broadcast later attracted over a million viewers, the content lacked exciting news, only stating his belief in the team led by GameStop CEO Ryan Cohen’s ability to transform the company’s business and confirming that the accounts with a large GME holding mentioned in the Reddit community belong to him.
An unremarkable live broadcast failed to drive GameStop’s stock price to continue to rise, instead causing the previously falling stock price to further plummet by about 27%, closing at $28.22 on Friday, a staggering 39.38% drop.
Interestingly, Anthony Scaramucci, founder of SkyBridge Capital, made an interesting suggestion after GameStop announced plans to sell 75 million shares resulting in a drop in stock price, proposing that the company emulate MicroStrategy in buying Bitcoin.
In the cryptocurrency market, due to Roaring Kitty’s failed live broadcast and the significant impact on GME stock price, a myriad of meme coins related to GameStop and Roaring Kitty also plummeted, such as GME on Solana and KITTY (Roaring Kitty) dropping by 36.7% and 47.5% respectively.
It is expected that Keith Gill’s future actions may still trigger drastic fluctuations in GME and Memecoins. However, meme coins often come with high volatility and high risk, so investors should be cautious when participating in market trends.
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