It’s been three years since GameStop’s stock originally exploded during the pandemic as big-time investors capitalized on an internet feud between deep-pocketed hedge funds and very online Redditors. Now the meme stock is back for round two after Roaring Kitty, AKA Deep Fucking Value, AKA Keith Gill, the WallStreetBets commentator who was one of the earliest and loudest champions of GameStop’s market upside, returned from a three-year hiatus.
CNBC reported that the GameStop trading was halted multiple times due to the volatility. The electric shock sent through the gaming brick-and-mortar chain’s corpse like Dr. Frankenstein bringing his monster back to life comes after years of layoffs, executive departures, mismanaged strategy pivots, and floundering faith among the meme stock’s biggest cult of online boosters. GameStop reported $1.79 billion in revenue last quarter, down from $2.23 billion the year prior.
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Source: Kotaku - 🏆 2. / 86 Read more »