GameStop tumbles for second day as meme-stock rally fades
How much did GameStop's shares decrease by on the Friday before the Monday drop, and what was the reported cause of this decline?
GameStop's shares experienced a significant drop on Friday, decreasing by nearly 40%. The reported cause of this decline was the company's announcement of a drop in quarterly sales. Additionally, GameStop said it would sell up to 75 million shares, just days after making $933 million by selling 45 million shares. This news led to a loss of investor enthusiasm, contributing to the sharp decline in the company's stock price.
What was the percentage drop in GameStop shares on the Monday following Keith Gill's YouTube livestream?
The percentage drop in GameStop shares on the Monday following Keith Gill's YouTube livestream was about 12%. The shares sank to $24.83, following a dive of nearly 40% on Friday after the company reported a drop in quarterly sales.
Can you detail the financial involvement of Keith Gill in GameStop, including the number of shares and options he bought, and their respective prices?
Keith Gill, also known as "Roaring Kitty," has been significantly involved in GameStop's financial activities. Gill acquired 5 million shares of GameStop at an average price of $21.274, according to the details he shared on social media. In addition to this, he purchased 120,000 GameStop June 21 call options at a strike price of $20, with each contract costing $5.6754. However, it should be noted that Reuters was unable to verify the size and value of his holdings.