(Bloomberg) -- Keith Gill’s highly anticipated return to YouTube could take GameStop Corp. speculators on a wild ride Friday as the man who has helped drive ...
-- Keith Gill ’s highly anticipated return to YouTube could take GameStop Corp. speculators on a wild ride Friday as the man who has helped drive recent multi-billion dollar swings in the stock price commands investors’ attention.Billionaire-Friendly Modi Humbled by Indians Who Make $4 a DayShares of the video-game retailer rose as much as 37% in early premarket trading on the day of Gill’s first livestream in more than three years.
“This YouTube channel is not under any obligation to update or correct any information provided in these videos,” the disclaimer read in part. “Statements and opinions are subject to change without notice. No compensation is received by this YouTube channel for the opinions expressed.” GameStop’s stock price “is completely divorced from its business,” said Kim Forrest, founder and chief investment officer at Bokeh Capital Partners, who added that she won’t be among the thousands watching the “spectacle” of Gill’s return.
Gill profited handsomely from investing in the beleaguered video-game retailer through 2020 and 2021. His recent social media activity, beginning with a cryptic X post on May 12 of an image of a video gamer leaning in, fueled anticipation that he was returning to the market, driving the share price to more than triple in a matter of days.
“What the government would need to show to pursue a market manipulation theory is manipulative intent,” said Pillsbury partner David Oliwenstein, a member of the firm’s Corporate Investigations & White Collar Defense team and former senior counsel in the SEC’s Market Abuse Unit. Stocks are about to hit a 'wall of money' that will drive the market to record highs in July, Goldman Sachs says
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