GameStop Stock Falls 39% After Roaring Kitty Livestream Disappoints: 'He Had 3 Years To Prepare,' 'Hard To Think Of A Catalyst To Drive $GME Back Up After This'
Portfolio Pulse from Chris Katje
GameStop's stock fell 39% after a disappointing livestream by Roaring Kitty (Keith Gill). Investors were left unsatisfied with the lack of new information or updated investment thesis. The livestream followed GameStop's poor Q1 financial results and an announcement to sell up to 75 million shares. Prominent investors criticized the event, leading to a significant drop in GameStop's stock price.
June 07, 2024 | 8:45 pm
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GameStop's stock fell 39% after Roaring Kitty's livestream failed to provide new insights or an updated investment thesis. The event followed poor Q1 financial results and an announcement to sell up to 75 million shares, leading to significant investor dissatisfaction.
The livestream was highly anticipated, but the lack of new information and the poor Q1 financial results led to significant investor dissatisfaction. The announcement to sell up to 75 million shares further exacerbated the negative sentiment, resulting in a 39% drop in GameStop's stock price.
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