|
Gill, known on YouTube as "Roaring Kitty," held his first
livestream in three years on Friday, the day GameStop
unveiled its second share sale in days.
A key figure behind an eye-popping rally in GameStop in 2021,
Gill joked about memes and interspersed his discussion of
GameStop with several disclaimers in a livestream that by Monday
had over 2.4 million views on YouTube.
On Monday, GameStop shares sank about 15% to $24.06, following a
dive of nearly 40% on Friday after the company reported a drop
in quarterly sales.
Also on Friday, GameStop said it would sell up to 75 million
shares, days after it made $933 million by selling 45 million
shares.
Gill acquired 5 million shares of GameStop at an average price
of $21.274, according to details he shared on social media. In
addition, he bought 120,000 GameStop June 21 call options at a
strike price of $20 at $5.6754 per contract. Reuters was unable
to verify the size and value of his holdings.
On Monday afternoon, the options contracts were changing hands
at $6.40 a contract, according to LSEG data.
Other so-called meme stocks also gave back recent gains on
Monday, with AMC Entertainment losing nearly 7% and headphone
seller Koss down about 4%.
Shares of GameStop nearly tripled in value over two days through
May 14 after an account associated with Gill returned to X.com,
formerly called Twitter. Since then, GameStop shares have given
up most of those gains, and the stock remains up about 37% so
far in 2024.
The videogame retailer has been losing money for years as
customers shift to online purchases, and its latest quarter was
no different.
(Reporting by Noel Randewich; Additional reporting by Saqib
Ahmed in New York; Editing by Richard Chang and David Gregorio)
[© 2024 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
