GameStop shares plummet, halted during Roaring Kitty livestream

Shares of video game retailer and meme stock sensation GameStop plunged Friday afternoon and were throttled multiple times as the investor responsible for the craze behind them held a livestream.

Shares of GameStop fell more than 33 percent shortly after 12:45 a.m. EDT, 45 minutes after Keith Gill, the investor known as Roaring Kitty, began a highly anticipated live presentation on YouTube. The New York Stock Exchange halted the buying and selling of GameStop shares more than a dozen different times throughout Friday as they dropped in value.

Nearly four years after sparking 2021's meme stock craze with his quixotic stake in GameStop, Gill sparked another surge in the retailer's stock price last month. The Massachusetts-born former financial advisor remained silent on social media for years after he and his legions of amateur Internet traders suffered the wrath of Wall Street and Washington.

GameStop shares have risen more than 90 percent in the past month since Gill returned to social platform X with a series of different cat photos. But shares remain well below their peak of over $81 on January 29, 2021, after which the share price collapsed.

While Gill's followers and meme stock traders believe his behavior is no different than that of the many Wall Street investors who hype their investments in media interviews, financial experts have raised concerns about the lack of clear investment logic behind several meme stock positions.

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