GameStop (NYSE: GME ) stock has swung wildly since Roaring Kitty returned to social media to reiterate just how much he likes the video game retailer. And though shares are down sharply from those peaks, what may not be clear to many is that GameStop stock continues to trend higher.
GameStop Corp. Chief Executive Ryan Cohen has joined the likes of Tesla Inc. CEO Elon Musk and billionaire hedge funder Bill Ackman in endorsing presumptive Republican presidential nominee Donald Trump in the wake of his attempted assassination on Saturday.
GameStop (GME) concluded the recent trading session at $26.05, signifying a +1.88% move from its prior day's close.
If you're looking for stocks to avoid, you might want to start with GameStop (NYSE: GME ) and Chewy (NYSE: CHWY ). “Roaring Kitty,” the nom de plume of meme-stock investor extraordinaire, Keith Gill, bought into GameStop.
Meme stocks looked to be on the comeback trail in May of this year after retail trader Keith Gill, known online as “Roaring Kitty,” made a triumphant return to social media after a three-year hiatus. By posting only a few cryptic memes heralding his return, Gill managed to more than double the share prices of popular undervalued meme stocks such as GameStop (NYSE: GME ) and AMC Entertainment (NYSE: AMC ).
Speculation about Keith Gill's massive position in Chewy hasn't done much for the meme-stock rally.
Bill Gross posted on Elon Musk's X that he believes Tesla is behaving like a meme stock.
Shares of GameStop (NYSE: GME ) stock are moving higher following an insider buy. On July 8, Director Larry Cheng purchased 4,140 shares of GME stock at an average per share price of $24.85.
GameStop's (NYSE: GME ) stock continued its decline last week, driven by fading meme stock momentum which was initially spurred by meme trader Keith Gill. GameStop stock dropped 3% to $24.18 by Friday's close.
After two major meme-stock-driven gains in May and June, GameStop (NYSE: GME ) stock has mostly been on the down and out. Having gained 48% year-to-date, it's hard to call the 2024 performance of GameStop stock a disaster.
GameStop (GME), despite its popularity as a meme stock, remains a volatile investment option with inflated valuations disconnected from its fundamentals.
GameStop (NYSE: GME ) remains among the most volatile stocks in the market. Media attention on GameStop stock can be both beneficial and detrimental for investors.