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GameStop

stocks surged Monday morning Famous Reddit user clearly still loves stock

After the close on Friday, Keith Gill, the retail investor known as Roaring Kitty, posted on Reddit his first update on his GameStop holdings (ticker: GME) since February 3, when he quit to give daily updates

Based on his post, he still owns 500 calls from April 16 at $ 12, but his total GameStop holdings were 100,000 shares up from 50,000 in the previous update. His cash balance had fallen to around $ 11 9 million from $ 13 8 million, implying that he could have bought the new shares at an average price of around $ 3870

Of course, Gill indicated he still believes in GameStop’s long-term prospects during the House Financial Services Committee hearing on Thursday on the matter. He was interrupted during the question and answer session while discussing his belief that Chewy co-founder
Ryan cohen
can help retailer bounce back as a digital dandy

Gill was greeted on Reddit as a decorated general returning from a distant “I’m really in love with this man” conquest, was among the top-rated comments in the “THE KING IS BACK” thread, wrote another user

GameStop action appeared after hours on Friday, but gains accelerated Monday morning Stock rose 16% to $ 47 25 shortly before 10 am The stock was up 1,179% from it 12 months ago, but 90% from its intraday high last month Of course, a 16% move is relatively small potatoes compared to some of the action last month

The company’s fiscal fourth quarter ended on January 30, and the company has yet to say when it plans to release results Last year, it released fiscal fourth quarter results at the end of March

The distribution of the stock began on January 11, when the company announced that Cohen and two other former Chewy executives would join its board of directors. This news eclipsed the company’s sales results for the holidays, which have showed 309% increase in online sales, although total sales declined 31%, disappointing analysts

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GME stock

World news – US – GameStop stock jumps as ‘Roaring Kitty’ weighs in

Source: https://www.barrons.com/articles/gamestop-stock-jumps-as-roaring-kitty-weighs-in-51614010779