The post GameStop Sinks as Meme Stock Trader Roaring Kitty Goes Quiet appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Shares of GameStop (GME) are hovering around the $24.50 mark on Thursday, down less than 1% on the day amid a broader market downturn for the stock, which has shed roughly 8% of its value over the past week. The recent lull in GME’s price coincides with a noticeable absence from a key figure in the 2021 “meme stock” frenzy: Keith Gill, better known online as Roaring Kitty and DeepFuckingValue.  Gill, whose passionate social media advocacy for GME fueled a historic short squeeze, has been uncharacteristically quiet lately after helping to drive up the price in recent weeks. Last week, Gill disclosed that he had upped his GME position to approximately 9 million shares, or approximately $223 million worth at today’s price. There have been no holdings disclosures from him over the past week, and his typically active Twitter account has seen little activity. This silence has contributed to uncertainty among retail investors who closely follow his moves and sentiments regarding GameStop. The decline in GameStop’s stock price can also be attributed to the lack of substantial updates from the company itself.  Earlier this week, GameStop’s highly anticipated annual shareholder meeting failed to provide any new strategic insights. GameStop CEO Ryan Cohen reiterated plans to cut costs and boost profits but offered few specifics about future growth strategies.  The meeting, which lasted about 30 minutes, did not allow shareholders to ask questions, leading to further dissatisfaction and speculation among investors. “Revenues without profits and prospects of future cash flows are of no value to shareholders,” Cohen stated during the meeting.  He emphasized the importance of a…

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Filed under: News - @ June 22, 2024 12:16 am