GameStop Stock Surges On News Of Roaring Kitty Scheduling Livestream

RTTNews | 514 dagar sedan

(RTTNews) - GameStop Corp. shares jumped 48 percent on Thursday after the video game retailer's investor Keith Gill, famously known as "Roaring Kitty", scheduled a livestream. The shares further gained significantly in the after-hours trading as well as in pre market activity on the NYSE earlier on Friday. However, the shares are now down around 11.3%.

The YouTube livestream, scheduled for Friday noon, is reported to be the stocks influencer's first live appearance in three years on the channel following the meme stock frenzy in 2021 that was ignited by his bullish videos and posts.

Gill's YouTube return is speculated to be a bullish discussion about his stake in GameStop.

Meanwhile, Gill's Reddit page showed a large stock and option position. Earlier this week, he started posting screenshots of his E-trade portfolio holding 5 million shares of GameStop shares and 120,000 call options.

The Wall Street Journal reported then that executives at Morgan Stanley's E-Trade platform were considering action against an account tied to the screenshot.

The latest surge in GameStop stock follows the recent significant movement in the stock since May when Gill reemerged across social media. GameStop shares soared 167% since Gill's tweeted a cryptic meme on May 12 for the first time on X, formerly known as Twitter, since 2021.

On Tuesday, the Massachusetts Secretary of State Bill Galvin confirmed that his office is investigating the trading activities of Gill, believed to be the person behind the recent spike in GameStop's stock.

The GameStop frenzy in early 2021 resulted in trading restrictions by platforms such as Robinhood, which faced a class-action lawsuit that was dismissed in August 2023.

The trading mania had also led to a series of congressional hearings.

As per reports, Gill, a prominent figure among meme stock traders, had turned his $53,000 investment in GameStop into a multi-million dollar stake, contributing to the increasing hype surrounding the stock.

Earlier in August 2020, Gill reportedly had held three-hour livestreams explaining his investing thesis behind GameStop.

The description by the YouTube account, which has more than 730,000 subscribers, says, "The Roaring Kitty channel and live streams are for educational and entertainment purposes only. I don't provide personal investment advice or stock recommendations during the stream."

On Thursday, GameStop shares closed at $46.55, up 47.45%. In pre-market activity on the NYSE, the shares were gaining 33.28%, but is currently down 11.3% at $41.30.

Taggar: GME

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.

RTTNews | 144 dagar sedan

GameStop Names Ryan Cohen Exe. Chair, Fires CEO Matthew Furlong

GameStop Corp. Wednesday disclosed that its Board of Directors has elected Chairman Ryan Cohen as Executive Chairman, effective immediately. In a filing with the U.S. Securities and Exchange Commission, the video game retailer said its Board on June 5 terminated Matthew Furlong as President and Chief Executive Officer with immediate effect.

RTTNews | 880 dagar sedan

European Shares Seen Lower As US Economic Concerns Mount

European stocks are seen opening on a sluggish note Tuesday as weak U.S. manufacturing data raised concerns about a slowing U.S. economy and mixed comments from Federal Reserve officials dampened hopes for a December rate cut.

RTTNews | 1h 58minuter sedan

Sensex, Nifty Subdued In Early Trade

Indian shares were slightly lower in cautious trade on Tuesday, tracking mixed cues from global markets.

RTTNews | 3h 7minuter sedan

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,850 level, with weakness in iron ore miners, financial, energy and technology stocks partially offset by gains in gold miners and stocks.

RTTNews | 4h 12minuter sedan

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the mixed cues from Wall Street overnight, as traders have been reluctant to make more significant moves ahead of the release of US payroll processor ADP's report on private sector employment on Wednesday. A survey showed economic activity in the U.S. manufacturing sector contracted in October for the eighth consecutive month.

RTTNews | 4h 38minuter sedan

Sensex, Nifty Seen Flat To Lower At Open

Indian shares are seen opening flat to slightly lower on Tuesday after Federal Reserve officials offered mixed signals about future rate cuts.

RTTNews | 5h 7minuter sedan

Thai Stock Market May Snap Losing Streak On Tuesday

The Thai stock market has moved lower in three straight sessions, slumping more than 6 points or 0.5 percent along the way. The Stock Exchange of Thailand now sits just shy of the 1,310-point plateau although it may stop the bleeding on Tuesday.

RTTNews | 5h 37minuter sedan

EURUSD	1.15219	GBPUSD	1.31208	AUDUSD	0.65078
USDJPY	153.578	USDCAD	1.4069	USDCHF	0.80786