GameStop shares plunge even as meme stock booster 'Roaring Kitty' says company is on the right track

The investor at the center of the pandemic meme stock craze said Friday that he still believes GameStop's management team can turn the struggling video game retailer around.

Gill, who has experience as a licensed securities broker and financial wellness educator, was rambling and unfocused at times during his midday live stream, which ran for nearly an hour and marked his first YouTube video in more than three years.“No real game plan here, just wanted to hop in, see what's poppin',” Gill said shortly after the start of the live stream.

All told, the company based in Grapevine, Texas, said Friday that it lost $32.3 million, or 11 cents per share, for the period that ended May 4. A year earlier, it lost $50.5 million, or 17 cents per share. Its adjusted loss was 12 cents per share. Quarterly sales dropped to $881.8 million from $1.24 billion a year ago. GameStop did not hold a conference call to discuss its financial performance.As Gill's live stream went on, GameStop shares sank further.

Meanwhile, Gill’s account on X posted a picture of a reverse card from the popular game Uno on Sunday night. There was no text accompanying the image.spiking the price of GameStop at the time. In May, the “Roaring Kitty” account posted an image on X of aThe post on X was followed with a YouTube video from years before when Gill championed the beleaguered company saying, “That’s all for now cuz I’m out of breath.

Gill and those who agreed with him changed the trajectory of a company that appeared to be headed for bankruptcy by buying up thousands of GameStop shares in the face of almost any accepted metrics that told investors that the company was in serious trouble. India's once-hot startup Byju's was valued at $22 billion. Now, HSBC and BlackRock say it's worth nothing.A high-yield dividend stock is a buying opportunity in June for its temporary weakness and discounted share price. The post 1 Dividend Stock Down 15.24% to Buy Right Now appeared first on The Motley Fool Canada.TD Sues Wealth Adviser Who Left During Money-Laundering Review

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GameStop stock plunges as 'Roaring Kitty' reappears, company plans big stock saleViewers tuned in to a highly anticipated livestream on the Youtube channel believed to be tied to GameStop retail trader Keith Gill.
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