Robinhood co-founder and CEO Vlad Tenev said the company is the “best place” for customers to trade and invest on the “Cramant Countdown.”
GameStop shares soared in trading on Thursday after online meme stock influencer Keith Gill, aka “Roaring Kitty,” teased a livestream event on Friday.
The stock rose 47%, its biggest percentage increase since a 60.1% increase on May 14, 2024, and capped a streak of gains that stretched over five of the past six days.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| global | GameStop Corp. | 46.46 | +14.97 | +47.54% |
Investors, “Roaring Kitty” YouTube channel The show will air Friday at noon Eastern time, and will mark Gill’s first time on the air in nearly three years.
The struggling video-game publisher’s shares have been volatile since May, when Gill returned to social media platform X, formerly Twitter, after a three-year hiatus.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| global | GameStop Corp. | 46.46 | +14.97 | +47.54% |
Shares of Meme Inc. soared in recent weeks to a record closing high of $48.75, according to Dow Jones data, before plummeting in the following days to as low as $18.32 on May 23.
GameStop shares surge after ‘barking kitten’ post
Meme stock influencer Keith Gill, aka “Roaring Kitty,” announced he would be hosting a livestream event on Friday, sending GameStop shares soaring. (Michael M. Santiago/File/Getty Images)
A mid-May rally in stock prices was capped after video game retailer GameStop Corp. provided a business update and announced plans to sell up to 45 million shares of its common stock.
The company said it expected first-quarter net sales to range from $872 million to $892 million and a net loss to range from $27 million to $37 million.
GameStop said it “intends to use the net proceeds from this offering, if any, for general corporate purposes, including acquisitions and investments consistent with our investment policies.”
GameStop, AMC short sellers double despite share price volatility
Video game retailer GameStop recently announced a new stock sale and forecast a quarterly loss. (Bing Guang/Bloomberg/File/Getty Images)
GameStop shares soared more than 20% on Monday after Gill’s Reddit profile was resurrected after a three-year hiatus and featured a post about betting $116 million on the company’s shares.
He also posted a photo of an Uno card, a card game known to be a sign of reversal.
Gill was a key figure in the 2021 market rally around GameStop and other so-called meme stocks, driven by retail investors on Reddit’s WallStreetBets forum.
Click here to get FOX Business on the go
FOX Business’ Aislinn Murphy and Reuters contributed to this report.
