GameStop co-founder Gary Kusin explains what CEO Ryan Cohen needs to do to turn things around and turn the company around.
GameStop shares soared more than 70% in premarket trading on Monday following a new post by retail investor “Roaring Kitty.”
A screenshot posted Sunday by Roaring Kitty (aka Keith Gill) showed that he holds 5 million GameStop shares, or 1.8% of the publicly traded stock. It also showed that he has $65.7 million worth of call options on GameStop, typically purchased to express a bullish outlook, expiring June 21 with a strike price of $20.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| global | GameStop Corp. | 23.12 | +0.52 | +2.29% |
X also posted an upside-down green card from the game “Uno,” and while he didn’t specify what it meant, reports suggest that in the world of meme stocks, this could signal a comeback.
In May, Gill returned to social media after a three-year hiatus with a post depicting what appeared to be a gamer sitting in a chair, which caused Gill’s shares to soar by more than 134% in two days.
Reuters contributed to this report.
