Group 1 - GameStop's stock is down approximately 5% today despite CEO Ryan Cohen's tweet seeking mobile app developers, although the stock is still up about 40% year-to-date [1] - Cohen's tweet emphasized the need for experienced mobile app developers in Dallas, highlighting a hands-on work ethic and no college degree requirement [1] - The stock's decline comes amid ongoing interest in meme stocks, particularly influenced by notable figures like Roaring Kitty [1] Group 2 - Roaring Kitty, also known as Keith Gill, is facing a lawsuit for alleged stock manipulation related to GameStop, specifically a "pump-and-dump" scheme [2] - The lawsuit claims Gill purchased a significant number of GameStop call options before a social media post on May 12, 2024, which led to a 74% surge in the stock price the following day [2] - Gill's legal troubles could impact the broader meme-stock community, as he is a well-liked figure among retail investors [2]

Key TakeawaysGameStop shares fell in intraday trading Monday as the meme stock faces another day of volatility.Markets are reacting to news about Keith Gill, the trader known as "Roaring Kitty" who was a defining piece of the initial meme-stock craze of late 2020 and early 2021.Gill was revealed to have a 6.6% stake in online pet products retailer Chewy in an SEC filing Monday. He is also facing a class-action lawsuit over allegations of a "pump and dump" scheme with GameStop shares. Shares of GameStop (GME ...

Meme stock icon “Roaring Kitty” allegedly duped his millions of internet followers with a “pump-and-dump” scheme by revealing his position in video game retailer GameStop without disclosing when he bought the options, according to a bombshell class-action lawsuit.Keith Gill, the former financial analyst for MassMutual who sparked the meme-stock frenzy in 2021 by using his internet alter-ego Roaring Kitty, was slapped with a securities fraud suit by several GameStop shareholders in Brooklyn federal court.Gil ...

Is one of the most powerful investing influences guilty of market manipulation? A recent lawsuit filed by the Eastern District of New York alleges that Keith Gill, known on social media as Roaring Kitty, has engaged in a pump-and-dump scheme involving GameStop (NYSE:GME) stock.Gill is famous for helping engineer the short squeeze of 2021, which took GME stock to new heights. But now it seems that the influencer, who recently returned to X, formerly Twitter, after a multi-year hiatus, may have done so with a ...

GameStop (NYSE:GME) stock has regained investor attention despite underlying financial vulnerabilities. Q1 2024 revenue dropped 29% to $881.8 million, resulting in a $32.3 million operating loss. Digital gaming posed a challenge to GameStop’s physical sales model. Despite a temporary stock price increase, the company’s financial struggles and market erosion persist amid inflated valuation multiples.GameStop in 2024 is flashy but volatile. Sustainable wealth beats risky quick gains. Before hoarding some GME ...

NEW YORK, June 30, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed on behalf of investors of GameStop Corp. (“GameStop” or the “Company”) (NYSE: GME) securities. The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 24-cv-04608, is on behalf of a class consisting of all persons and entities other than Defendant that purchased or otherwise acquired GameStop securities between May 13, 2024 and June 13, 2 ...

GameStop (GME) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this video game retailer have returned +11% over the past month versus the Zacks S&P 500 composite's +3.5% change. The Zacks Gaming industry, to which GameStop belongs, has gained 16.3% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors about ...

Keith Gill, famously known as Roaring Kitty, has notably returned to social media, sparking market excitement. On June 27, Gill posted an image of a cartoon dog with its tongue hanging out on X, leading to speculation that Chewy’s (NYSE: CHEWY) stock, an American online retailer of pet food and other pet-related products, might be his next target.  This simple post caused CHWY shares to surge by over 27% in early trading, reaching daily highs of $35.75, although the stock later gave up most of these investm ...

Stocks have had a strong year so far, with share prices rising approximately 50% since bottoming in October 2022. This is the best performance since 1957. However, historically, traders are looking for certain stocks to sell during substantial growth. Typically, stocks experience some pullback, defined as a 10% decline from the recent high. While they do not seem ready to sell yet, there are hints of unease as investors worry about the concentration of gains within a small group of large tech companies.In f ...

In 2021, a trader with a large Reddit following induced a massive rally in shares of GameStop Corp. NYSE: GME. The downtrodden gaming retailer was the most shorted stock in the entire market in January 2021, but the retail buying frenzy triggered a massive run-up in price as hedge funds were forced to cover their short positions to prevent huge losses.GameStop shares rallied from under $5 to over $80 (split-adjusted) in just under three weeks, igniting sympathy rallies in other heavily shorted stocks like A ...