FILE PHOTO: A screen displays GameStop stock trading information on the floor of the NYSE in New York
On a livestream on Friday with more than 600,000 viewers, Gill, the key figure behind an eye-popping rally in the struggling company's stock in 2021, joked about memes and interspersed his discussion of GameStop with various disclaimers. The stock closed the session down nearly 40%.According to Reuters' calculations, the average sales price of each GameStop share came at around $28.50. The company's shares closed at $30.49 after Tuesday's trade.
CEO Ryan Cohen held an 8.6% stake in the videogame retailer as of June 10, as per a regulatory filing on Tuesday, down from 10.5% as of May 22. Gill has helped attract a flood of retail cash to the beleaguered bricks-and-mortar retailer with his bullish case on Reddit posts and YouTube streams.