GameStop Stock Adds To Losses After Roaring Kitty Livestream
GameStop shares were already lower Friday after an early earnings release and news of another stock offering, but fell further after Roaring Kitty's livestream.


GameStop (GME) stock was down around 20% mid-morning Friday after the video-game retailer unexpectedly released its fiscal first-quarter earnings report and announced another large stock offering. However, shares fell even further following a lunchtime livestream hosted by the investor known as Roaring Kitty.
Starting with the earnings report. In the 13 weeks ended May 4, GameStop's net sales decreased 28.7% year-over-year to $882 million and its net loss per share narrowed to 11 cents from 17 cents in the year-ago period.
The company wasn't scheduled on the earnings calendar until next week, so this morning's news caught Wall Street off guard. This, alongside a regulatory filing that reveals GameStop plans to sell an additional 75 million shares, adding to the 45 million shares it sold in May, sent the shares lower. However, the volatility in GME got started weeks ago.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Specifically, Keith Gill, also known as "Roaring Kitty" on social media, who sparked a massive short squeeze in GameStop stock back in 2021, returned to the spotlight with a cryptic post on X in mid-May, igniting another round of meme stock mania.
While Gill has only posted memes and short video clips to his X account since returning, earlier this week he announced his first livestream in nearly four years.
The livestream kicked off this afternoon. During the event, which drew more than half a million viewers, the investor said he is not working with any institutional backers and reiterated his support for GameStop CEO Ryan Cohen. Gill also told those watching that none of what he says should be considered advice and that they need to make their own investment decisions.
GameStop, which was halted several times in intraday trading, eventually ended Friday down 39.4%. This was its biggest one-day drop since February 2021, according to Dow Jones Market Data.
Gill could remain in the spotlight in another way, too, as The Wall Street Journal on Monday reported that Morgan Stanley's investing platform E*TRADE is considering removing him from its platform.
Is GameStop stock a buy, sell or hold?
Market research firm Toggle AI thinks fundamental challenges remain at GameStop.
"The video-game retailer took advantage of a trading frenzy [in May], selling 45 million shares and raising approximately $933 million," Toggle AI president Guiseppe Sette said in a statement. "Despite this financial maneuver, GameStop's core business remains challenged. With gamers increasingly opting for digital downloads over physical stores, the company has struggled. Recent operational updates revealed net sales falling short of estimates as the company focuses on cost-cutting measures."
Meanwhile, according to S&P Global Market Intelligence, the consensus analyst target price for GME stock is $7, representing implied downside of nearly 75% to current levels. Meanwhile, the consensus recommendation is a Strong Sell.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
Two Don'ts and Four Dos During Trump's Trade War
The financial rules have changed now that tariffs have disrupted the markets and created economic uncertainty. What can you do? (And what shouldn't you do?)
By Maggie Kulyk, CRPC®, CSRIC™
-
I'm Single, With No Kids: Why Do I Need an Estate Plan?
Unless you have a plan in place, guess who might be making all the decisions about your prized possessions, or even your health care: a court.
By Cynthia Pruemm, Investment Adviser Representative
-
Two Don'ts and Four Dos During Trump's Trade War
The financial rules have changed now that tariffs have disrupted the markets and created economic uncertainty. What can you do? (And what shouldn't you do?)
By Maggie Kulyk, CRPC®, CSRIC™
-
I'm Single, With No Kids: Why Do I Need an Estate Plan?
Unless you have a plan in place, guess who might be making all the decisions about your prized possessions, or even your health care: a court.
By Cynthia Pruemm, Investment Adviser Representative
-
Most Investors Aren't as Diversified as They Think: Are You?
You could be facing a surprisingly dangerous amount of concentration risk without realizing it. Fixing that problem starts with knowing exactly what you own.
By Scott Noble, CPA/PFS
-
My First $1 Million: Literacy Interventionist, 59, Colorado
Ever wonder how someone who's made a million dollars or more did it? Kiplinger's new My First $1 Million series uncovers the answers.
By Joyce Lamb
-
Will My Children Inherit Too Much?
If you worry about how your children will handle an inheritance, you're not alone. Luckily, you have options — from lifetime gifting to trusts — that can help.
By Mallon FitzPatrick, CFP®, AEP®, CLU®
-
Charitable Giving Lessons From Netflix's 'Apple Cider Vinegar'
Charity fraud is rife, and a Netflix series provides a timely warning about donating money to a good cause without looking into its background.
By Peter J. Klein, CFA®, CAP®, CSRIC®, CRPS®
-
What Happens To Mortgage and Savings Rates If Trump Fires Jerome Powell?
President Donald Trump expressed his desire to remove Fed Chair Jerome Powell. If the president is successful, how would it impact your savings accounts?
By Sean Jackson
-
Why You Need a Trusted Contact for Your Brokerage
Your brokerage or bank needs someone to reach out to if it's concerned you're experiencing fraud or cognitive decline. That's where a trusted contact can help.
By John Waggoner