Even amid cooler-than-expected inflation data , stocks are all over the place today, with the Dow sharply lower, the S&P 500 flat, and the Nasdaq cautiously higher.
Has Roaring Kitty sold some of his $20 GameStop (NYSE: GME ) call options? Yesterday's options data suggests that this could be the case.
GameStop's 2024 annual shareholder meeting experienced server issues Thursday, crashing under overwhelming interest. A customer service rep for Computer Share, the company hosting the meeting, told CNBC its servers had apparently crashed because they weren't accustomed to the amount of traffic the event had attracted.
Keith Gill, the meme stock trend-setter known as Roaring Kitty, may have sold off his recently-disclosed options in GameStop amid a surge in trading, market experts speculated.
The stock price of GameStop (NYSE: GME) trades at $30 per share, about 65% below its peak level of over $80 seen in January 2021. In contrast, Best Buy stock (NYSE: BBY) stock saw a 13% decline over this period.
GameStop Corp. shares rallied 3.9% in premarket trades Thursday ahead of the videogame retailer's annual shareholder meeting, which is scheduled for 11 a.m. Eastern Time.
The stock is lower than a month ago, but still well up on the year.
Retail trading legend Keith Gill, known as Roaring Kitty, returned to his livestream on Friday after several years. GameStop (NYSE: GME ) stock had already fallen 25% that morning following a rushed Q1 earnings report and a 75 million share offering.
When Keith Gill appeared on a YouTube video in the summer of 2020 to discuss GameStop , he argued that the company's future was far rosier than the market expected. Nearly four years later, he remains bullish, even if most of his key predictions have gone unfulfilled.
A selloff in GameStop shares on Wednesday corresponded with a surge in volume for call options believed to be owned by Keith Gill, better known by his online handles “Roaring Kitty” and “DeepF—ingValue.”
A surge of trading in some short-dated GameStop options contracts on Wednesday suggested to some market participants that Keith Gill, the stock influencer known as Roaring Kitty, may have sold some of his recently-disclosed options position in the company.
The sell-off GameStop shares intensified in afternoon trading, and that coincided with a spike in trading volume in the call options that Roaring Kitty owned.