
Keith Gill, also known as "Roaring Kitty," recently returned to social media after a three-year hiatus and scheduled a YouTube livestream. This announcement led to a significant impact on GameStop's stock value, causing it to spike more than 40% as traders anticipated a bullish discussion about his position in the stock.

On Thursday, GameStop's stock experienced a significant increase, spiking more than 40% during the session. This surge was primarily driven by the announcement that "Roaring Kitty," a prominent meme stock investor, had scheduled a YouTube livestream for Friday. Traders anticipated that the discussion would be bullish about his position in the stock.
However, GameStop's financial report released ahead of schedule on Friday presented a different picture. The company reported a 29% decline in sales and a $32 million loss for the first quarter2. This financial performance was not in line with the optimism seen in the stock's surge on Thursday, indicating a potential disconnect between the market sentiment and the company's underlying financial situation.

The S&P 500 closed slightly down at 5,352.96, a decrease of 0.02% from its previous value. The Nasdaq Composite also fell slightly by 0.09% to close at 17,173.12. These changes were minimal, reflecting a lack of significant movement among the major indexes.