EXCLUSIVE: GameStop Stock In Spotlight With Roaring Kitty's YouTube Return, 75% Of Investors Say Shares Will Trade Above This Price After Stream
Portfolio Pulse from Chris Katje
GameStop shares are experiencing volatility due to increased investment by Roaring Kitty and his return to YouTube. A Benzinga poll shows optimism among investors, with 75% predicting shares will trade above $50 after the livestream. Despite this, shares fell 23% to $35.75 on Friday following the company's first-quarter financial results and an at-the-market offering to sell up to 75 million shares.
June 07, 2024 | 2:28 pm
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NEUTRAL IMPACT
GameStop shares are volatile due to Roaring Kitty's increased investment and return to YouTube. Despite investor optimism, shares fell 23% to $35.75 after Q1 results and a new share offering.
The news of Roaring Kitty's return and increased investment initially drove optimism and higher after-hours trading. However, the subsequent release of Q1 financial results and a new share offering led to a significant drop in share price. The mixed signals create a neutral short-term outlook.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100