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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 GameStop‘s stock price popped this morning, with the video game retailer’s share price continuing to improve after it raised more than $2 billion—and all while traders speculate over the next moves of meme stock influencer Roaring Kitty (aka Keith Gill). On June 7, GameStop filed to sell up to 75 million shares of its common stock at its market value of the time of $46.55—which has been inflated over the past couple of months due to Roaring Kitty’s return. The company announced late Tuesday that it sold the maximum number of shares registered with the SEC, raising $2.137 billion in the process. GME jumped 14% in early trading this morning, rising from $29.29 at open to a daily high of $33.50. However, it has since cooled to $31.35, marking a 3% rise on the day since Tuesday’s close. That’s a stark difference to the last time GameStop announced it was selling additional shares. Back in May, GameStop filed to sell 45 million shares, resulting in its stock price tanking—and Roaring Kitty again left social media for a while. This all comes amid the company being the subject of an internet storm stirred up by Gill, better known as Roaring Kitty or DeepFuckingValue. On Thursday, he posted his GameStop holdings on Reddit community SuperStonk, prompting speculation that he could become a billionaire (at least on paper) if the price kept climbing. Kitty didn’t reach that peak, however, after a disappointing Q1 earnings report dropped the next day and sent the stock tumbling—all before Roaring Kitty started livestreaming on YouTube for the first time in three years. The…

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Filed under: News - @ June 13, 2024 8:10 am