Shares of GameStop (GME) and other meme stocks popped on Thursday after Roaring Kitty, the online alias of meme stock ringleader Keith Gill, posted to X for the first time since September.
GameStop's shares jumped on Thursday after a cryptic post from meme stock influencer Keith Gill, who shot to notoriety after his online personas and bullish bets on the video game retailer sparked a trading frenzy among mom-and-pop investors.
GameStop Corporation GME shares are surging Thursday after Roaring Kitty (aka Keith Gill) posted a new tweet signaling his return to social media.
GameStop, despite declining sales, has a strong cash position with virtually no debt, largely due to retail investor-driven equity sales during meme stock surges. The company focuses on omnichannel retail excellence, cost management, and leveraging brand equity, with potential investments beyond retail gaming under CEO Ryan Cohen. Short sellers are cautious due to GME's unpredictable variables and strong cash position, reducing short interest and supporting bullish momentum.
GameStop (GME) reachead $27.44 at the closing of the latest trading day, reflecting a +0.62% change compared to its last close.
GME's recent 55% rally is characterized by a slow, sustained uptrend, unlike the rapid spikes of 2021 and early 2024. The backdrop to the rally is also different. It hasn't been fuelled by memes or a Roaring Kitty post. Management is making some decent moves. Despite shrinking revenues, GameStop's improved margins and potential return to profitability this fiscal year are positive signs, but the $13B valuation remains questionable.
Growing sentiment on Stocktwits that ‘a new squeeze is building'
The 'Undercovered' Dozen highlights 12 lesser-covered stocks, showcasing diverse investment opportunities and sparking community discussion on their potential. Canadian Solar's shift to owning power plants is seen as ensuring consistent profits from electricity sales, mitigating manufacturing volatility and boosting future profitability. Plymouth Industrial REIT faces challenges with earnings misses and competitive disadvantages, making it less attractive compared to other industrial and retail REITs according to David Johnson.
GameStop (GME) closed at $26.44 in the latest trading session, marking a -0.56% move from the prior day.
GameStop Corporation GME could be pushing deeper into its bets on trading cards and grading services with a new board appointment.
Collectors Holdings CEO Nat Turner has joined the board of video game retailer and original meme stock GameStop.
The meme craze sent GameStop soaring. While shares have come down, management parlayed the hype and built a cash-rich balance sheet that can be leveraged moving forward.