The post D-Day for next GameStop stock short squeeze appeared on BitcoinEthereumNews.com.

The drama surrounding GameStop (NYSE: GME) stock and its most popular shareholder, Keith Gill, aka Roaring Kitty, seems far from over, as continuous developments seem to work in his favor. As GameStop mania was renewed in recent months, spurred with cryptic tweets from Roaring Kitty and his constant holdings updates, the short sellers suffered billions in losses, making the most famous institutional short seller, Citron Research, step down with an explanation: “It’s not because we believe a turnaround for the company’s fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult-like shareholders.”  The news followed the announcement of the completion of an at-the-market offering that raised $4 billion in cash, allowing it to address its debt load and finance other operations. Subsequently, on June 13, Roaring Kitty updated his holdings, revealing that he exercised his June 21 call options and that his current GME stock holding has increased to 9 million shares worth over $262 million, effectively making him the 4th largest shareholder. ROARING KITTY HAS OFFICIALLY POSTED AN UPDATE ON HIS $GME GAMESTOP POSTION 🚨@ROARINGKITTY HAS 9,000,000 SHARES OF #GME AT A 24% GAIN FOR A TOTAL OF $262,000,000 DOLLARS 🎱 HE HAS SOLD HIS $20 CALLS AND ADDED TO HIS SHARES 🚀 SHORT SQUEEZE INCOMING TO $200++… 💎🙌 pic.twitter.com/vRAxtBfch8 — Mike Investing (@MrMikeInvesting) June 13, 2024 Now, with a rescheduled annual GameStop shareholder meeting set for today, June 17, the short squeeze might again take off. A low supply of GME stock might cause a surge in price According to the latest update on the available shares, this number is now around 800,000, down from the starting 5 million, meaning that demand could easily outpace the supply if today’s GameStop shareholder meeting announces promising results. An amount of GME…

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Filed under: News - @ June 17, 2024 11:26 am