GME - Roaring Kitty Sparks GameStop Surge With $100M Bet: Analysis And Insights

2024-06-04 11:38:12 ET

Summary

• GameStop's stock surges 80% in pre-market trading after Keith Gill, aka Roaring Kitty, shares a screenshot of buying $100 million in stock and call options.
• GameStop's annual report shows reduced operating loss and $2 billion in cash and marketable securities.
• The company's store count is decreasing, but it has a growth multiple despite shrinking core operations.
• The rally could easily continue, despite lacking a clear fundamental case.

Things are really heating up at GameStop ( GME ). The (in)famous WallStreetBets darling surged 21% yesterday (~100% in the premarket even). According to Seeking Alpha the rally appears to be the result of Keith Gill, aka Roaring Kitty, sharing a screenshot buying ~$100 million in stock and 120,000 June 21 $20 call options....

For further details see: