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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →GameStop’s repeated trading pauses on June 7, 2024, were reported as volatility-related pauses—not as a halt ordered personally by the SEC or proof that Keith Gill’s comments triggered them. The leading explanation is the market-wide Limit Up-Limit Down (LULD) mechanism, which can pause trading when a stock’s price reaches a specified band and remains there. The exact trigger and timestamp for each pause that day are not established by the available event reporting.
Why was GameStop halted during the livestream?
The pauses occurred during an exceptionally volatile trading session, while Gill—known online as Roaring Kitty—was livestreaming on YouTube. The Associated Press reported that the New York Stock Exchange paused GameStop trading more than 15 times by early afternoon because of unusually high volatility. That reporting supports volatility as the explanation; it does not establish that a particular remark by Gill caused a particular pause.
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The best-supported explanation for how such pauses work is Limit Up-Limit Down, or LULD. Nasdaq Trader describes LULD as a market-wide mechanism intended to keep trades in National Market System securities within specified price bands. The bands are based on a rolling reference price calculated using eligible reported transactions over the preceding five minutes. When a stock reaches a band, it can enter a 15-second limit state; if that state persists, a five-minute trading pause may follow. Nasdaq Trader’s LULD FAQ explains the mechanism.
This is a description of the general process, not a reconstruction of every June 7 halt. The contemporaneous reporting cited here does not provide a full event-specific halt log with exact timestamps and triggers. A pause ends when the primary listing exchange reports a reopening price. The LULD Plan describes the framework.
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What happened on June 7, 2024?
Gill returned to YouTube on Friday, June 7, for his first YouTube video in more than three years. The Associated Press reported that the livestream drew more than 600,000 views. During the session, the stock moved sharply: the AP said shares were down just over 40% at $27.65 shortly before Gill signed off, then closed at $28.22, down 39.4% for the day. The Associated Press’s June 7 report gives the contemporaneous account.
Reuters reported that GameStop shares worth about $10 billion traded that day, citing LSEG data. This is reported trading value, not GameStop’s market value and not cash raised by the company. Reuters’ report republished by Investing.com attributes the figure to LSEG.
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How were the pauses different from a news-pending halt?
A volatility pause under LULD is tied to a stock’s movement relative to price bands. A news-pending halt, by contrast, is used to allow material news to be disseminated. The June 7 reporting described GameStop’s pauses as volatility-related; it does not characterize them as news-pending halts. Neither type, on its own, establishes manipulation or a judgment about a company’s value.
What did GameStop disclose about its shares?
On June 7, GameStop filed a Form 8-K describing an at-the-market offering of up to 75 million shares. The filing also said 45 million shares had previously been sold under the agreement, generating approximately $933.4 million in gross proceeds. The 75 million figure was the maximum offering authorization, not a statement that all those shares were issued immediately or sold that day. The company said any proceeds would be used for general corporate purposes. The June 7 Form 8-K contains the offering details.
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In the filing, GameStop said its share price had seen extreme fluctuations that did not appear to be based on the underlying fundamentals of its business or results of operations. That is the company’s characterization, not an independent finding about what caused the market move.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What were GameStop’s reported first-quarter results?
GameStop also released results for its first quarter ended May 4, 2024. Net sales were $881.8 million, compared with $1.237 billion in the prior-year quarter. Net loss narrowed to $32.3 million from $50.5 million. The company reported $1.083 billion in cash, cash equivalents and marketable securities at quarter end. These are historical figures for that reporting period; they do not, by themselves, explain the intraday price movement on June 7. GameStop’s first-quarter 2024 results provide the figures.
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What did Gill say about his investment?
Gill said he remained confident in GameStop’s management and displayed an account screenshot that the Associated Press said appeared to show a substantial investment. Reuters quoted him warning viewers to “lose it all” and saying his “aggressive style of investing” was “almost certainly not suitable for you all.” Those were his statements about his own risk-taking, not investment advice for readers. Reuters’ contemporaneous account reports the remarks.
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