The Commercial Real Estate Alpha Site

Article below via Titan.com – Click here to try the service

Meme stock leader Keith Gill, also known as Roaring Kitty, made his return to YouTube after three years away from the platform with a livestream that generated more than 600,000 viewers and addressed his belief in video game retailer GameStop. Shares jumped near the start of the livestream before steadily declining, with the stock trading down more than 36% by the end of Friday’s trading. Gill, who revealed he holds a $160.4 million position in GameStop, said he’s a “believer” in the retailer moving forward.

Gill may believe in the stock, but business fundamentals don’t suggest there’s much to believe in when it comes to the business’ ability to transition the legacy business to one that’s more attuned to the modern world. But momentum investing is a real thing in markets, and GameStop seems to have a lot of it. What will be interesting is if E-Trade, the brokerage that holds Gill’s positions, tries to claim that Gill is participating in market manipulation and attempts to kick him off the platform – who knows what will transpire (good or bad) if that happens.