Shares of the meme stock GameStop experienced a significant drop on Friday, coinciding with a livestream by the well-known investor “Roaring Kitty,” whose real name is Keith Gill. The video game retailer’s stock plummeted more than 33 percent as Gill began his livestream.
Throughout the day, the New York Stock Exchange halted trading of GameStop shares over a dozen times due to the sharp volatility. Despite the recent dive, GameStop shares have surged over 90 percent in the last month following Gill’s return to social media, which reignited interest in the stock among retail investors.
However, GameStop shares still remain below their peak price of over $81, reached in early 2021 before the dramatic price collapse. The recent fluctuations highlight the ongoing volatility and unpredictability associated with meme stocks, influenced heavily by social media and online trading communities.
The renewed attention on GameStop and its stock performance underscores the significant impact that individual influencers can have on market dynamics. Gill, who gained fame during the original GameStop trading frenzy, continues to be a central figure in the ongoing narrative around meme stocks and retail trading.
