The Wall Street – The company’s ardent fans who are retail investors are talking about GameStop’s annual meeting on social media which is set for Monday.
Following Keith Gill’s reappearance and subsequent disclosure of a sizable stake in GameStop, the stock influencer known as Roaring Kitty who helped spark meme stock craze in 2021 shares of the video game retailer have fluctuated dramatically over the past month.
The planned meeting this week was adjourned due to a technical glitch caused by high demand from shareholders wanting access to the online feed. According to a spokesperson for Computershare, which is hosting the online-only gathering, Monday’s annual general meeting is scheduled for 12:30 p.m. ET
Unprecedented demand from shareholders seeking to attend GameStop’s Annual General Meeting resulted in a technical difficulty that prevented certain investors from participating, and the meeting was adjourned,” Computershare stated.
GameStop Investor’s Analyzing On Future Problems
Analysts and investors were unsure what problems would be covered at the conference, or whether Gill, who restated his bullish argument for GameStop in a livestream earlier this month, would be in attendance or online.
The company’s last shareholder meeting in June 2023 lasted less than 15 minutes and featured a brief statement from CEO Ryan Cohen.
GameStop confirmed the technical problem in a press release but did not react to further inquiries. Gill did not reply to calls for comments.
That hasn’t prevented Roaring Kitty followers from guessing about what the meeting could entail. Some people made their own memes ahead of the meeting, with one on X including Gill’s visage Photoshopped onto that of a rock star striding onto a stage in front of a large crowd.
Reuters was unable to independently verify the legitimacy of the posts, and the posters failed to respond to calls for comment.
Gill prompted the most recent wave of enthusiasm among retail investors when he revealed ownership of 5 million GameStop shares and 120,000 June $20 strike call options in a screen photo shared on Reddit on June 2nd.
Gill updated his position on Thursday, revealing that he currently holds around 9 million shares and no options in the company. Gill may have sold all of his options contracts and purchased shares or he may have sold a portion of his options holdings and converted the remainder into shares.
GameStop’s stock fell 1% to $28.70 on Friday. They had risen 67% since May 10 the last trading day before Gill returned to social media after a three-year sabbatical.
