What's Going On With GameStop Stock?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) shares are trading higher, adding to gains of nearly 14% over the past week. The stock is trending on social media due to high short interest and the return of meme stock trader Keith Gill. Gill's recent activities have increased volatility in GameStop and other retail stocks. He also disclosed a 6.6% stake in Chewy Inc (NYSE:CHWY), founded by GameStop CEO Ryan Cohen.
July 16, 2024 | 4:06 pm
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Chewy shares may see increased interest following Keith Gill's disclosure of a 6.6% stake in the company.
Keith Gill's disclosure of a significant stake in Chewy could attract attention from retail investors, potentially driving the stock price higher.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
GameStop shares are up due to high short interest and the return of meme stock trader Keith Gill, who has increased volatility in the stock.
The return of Keith Gill, a key figure in the 2021 meme stock rally, has increased interest and volatility in GameStop shares. High short interest further fuels the potential for a short squeeze, driving the stock price higher.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100