GameStop-New Filing Shows That Dilution Has Shrunk Ryan Cohen's Ownership of GME Stock

CEO Ryan Cohen's Ownership in GameStop - Ryan Cohen and RC Ventures own 36 84 million shares of GME stock as of June 10 2024 unchanged from previous updates [1] - Cohen's ownership percentage in GameStop has declined from 12 1% on June 9 2023 to 10 5% on May 22 2024 and further to 8 6% as of June 10 2024 due to share dilution [1] - GameStop's shares outstanding increased by 40% from 304 75 million in June 2023 to 426 21 million in June 2024 primarily due to two ATM offerings totaling 120 million shares [2] GameStop's Share Dilution and Market Impact - GameStop conducted two ATM offerings in May and June 2024 raising gross proceeds of $3 07 billion [2] - Despite the dilution GME stock price increased by over 20% since the first offering announcement on May 17 2024 [2] - The dilution is a result of corporate actions and not a negative signal from CEO Ryan Cohen [2] Influence of Roaring Kitty on GME Stock - Roaring Kitty's return has significantly influenced GME stock rallying shareholders through cryptic meme posts and frequent updates on his GameStop position [3] - As of June 10 2024 Roaring Kitty holds 5 million shares of GME worth$ 124 15 million and 120 000 $20 call options expiring on June 21 2024 [3]