Gamestop nyse Gme Stock Slumps Again Keith Gill's Youtube Retrn Fails to Turn the Tide

GameStop (NYSE: GME) Stock Slumps Again, Keith Gill’s YouTube Retrn Fails to Turn the Tide

GameStop (NYSE: GME) stock fell again on Tuesday, marking its third consecutive decline. Keith Gill’s return to YouTube failed to revive investor interest in the struggling shopping mall retailer.

Keith Gill, known on YouTube as “Roaring Kitty,” made his first livestream in three years on Friday, coinciding with GameStop’s second share sale announcement in days. Gill, a prominent figure in the 2021 GameStop stock rally, combined memes with serious discussion about GameStop in a livestream that garnered over 2.4 million views by Monday.

GameStop Quarterly Performance and Share Sales

On Monday, GameStop shares plunged 12% to $24.83, following a nearly 40% drop on Friday after the company released disappointing quarterly sales figures. The video game retailer reported net sales of $881.8 million, a sharp decline from $1.237 billion the previous year and below the analyst consensus of $995.3 million. Additionally, GameStop posted an EPS loss of $(0.12), missing the expected loss of $(0.09). However, the quarterly net loss improved to $(32.3) million from $(50.5) million the previous year.

In addition, GameStop announced plans to sell up to 75 million shares, days after raising $933 million by selling 45 million shares. This move has contributed to the stock’s recent volatility.

Keith Gill’s Holdings and Options Trades

Gill disclosed on social media that he acquired 5 million shares of GameStop at an average price of $21.274 per share. Additionally, he purchased 120,000 GameStop June 21 call options at a strike price of $20, paying $5.6754 per contract. As of Monday afternoon, these options contracts were trading at $6.40 per contract, according to LSEG data.

Shares of GameStop had almost tripled in value over two days through May 14 after Gill’s account resurfaced on, formerly known as Twitter. However, the shares have since surrendered most of those gains, though the stock remains up about 37% in 2024.

GameStop continues to struggle financially, as the shift to online purchases impacts its traditional retail model, with its latest quarterly results highlighting ongoing challenges.

GameStop (NYSE: GME) Stock Movement

As of 09:44 a.m. (Eastern Time) Tuesday, GME stock traded at $23.29, marking a 6.20% decrease compared to the previous trading session.