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GameStop announces share sale plan ahead of Roaring Kitty livestream

Video game retailer launches second capital raise in less than a month amid renewed price swings

GameStop shares tumbled about 15 per cent in early trading on Friday after the games retailer brought forward its quarterly earnings and moved to take advantage of its renewed meme stock fame to offer up to 75mn new shares for sale.

The struggling group, which has not reported an annual operating profit since 2019, has seen its shares rocket more than 150 per cent since the apparent return in mid-May of Keith Gill, who goes by Roaring Kitty on various social media platforms, and who became famous in 2021 for his belief in the company during the meme stock craze.

On Friday GameStop reported a 29 per cent year-on-year drop in first-quarter sales, but a narrowing of net losses to $32.3mn from $50.5mn a year ago. Gains on investments have helped staunch losses from its challenged retail operations in recent quarters.

Both figures were in the middle of ranges the company provided when it released preliminary results alongside the announcement in May of a separate capital raise.

Friday’s statement gave no management commentary on its underlying business performance. The company had been scheduled to release figures next week.

GameStop’s shares leapt 47 per cent on Thursday after Roaring Kitty’s YouTube channel alerted followers to a live-streaming event at midday on Friday, US east coast time. So far Gill has not explained his return after a three-year hiatus. Last weekend he posted screenshots of his apparent holdings in the company.

An updated screenshot posted to Gill’s Reddit account late on Thursday showed holdings of stock and options worth $557mn.

Last month, GameStop sold 45mn new shares, pulling in $933mn, after Gill’s initial return sent the stock sharply higher. It reported cash of $999mn in the first quarter before the new funds. It has minimal debt.

Were it to sell the new shares at Thursday’s closing price of $46.66, which gave it a market capitalisation of $14.3bn, it would raise $3.5bn.

Average trading volumes in GameStop have soared seven-fold since the return of Roaring Kitty compared with levels this year before that point. They have been concentrated on days when Gill’s social media accounts have posted something new.

Retail interest in the stock appears to be waning, some trackers of the sector have warned. About $18mn worth of retail purchases of the stock were made on Monday, followed by just $3.1mn on Tuesday, according to data from VandaTrack.

“We estimate that retail traders accounted for about 11 per cent of all [GameStop] turnover between Monday and Tuesday,” Vanda said in a note on Wednesday.

As ações da empresa voltaram a disparar influenciadas por uma nova publicação de Keith Gill. Desta vez. o investidor partilhou uma captura de ecrã de um alegado investimento de 116 milhões de dólares na GameStop.

As ações da GameStop voltaram a disparar no mercado norte-americano, depois da empresa ter anunciado na sexta-feira que vendeu 45 milhões de títulos por 933,4 milhões de dólares. A GameStop avança, assim, 19,16% para 22,64 dólares - há duas semanas escalou mais de 100% com o retorno de Keith Gill, conhecido como "Roaring Kitty", às redes sociais. Os investidores ficaram empolgados com aquilo que poderia ser o retorno do movimento "meme stock" de 2021.

Kooc Escreveu:Acho que não tenho muito jeito para especulador
Como referi, comprei uma posição ( a 30$) e no dia seguinte telefonaram-me da corretora a perguntar se queria vender, que ia abrir a $60).
Disse que não, que ia ver no que dava.....

As ações já perderam mais de quatro mil milhões de dólares desde o início da sessão, depois de mais que terem duplicado o valor em bolsa em apenas dois dias, com o regresso às redes sociais de "Roaring Kitty". O "bonds kin" Bill Gross acredita que o tempo de agitação das "meme stocks" acabou.

Os investidores mantêm-se atentos àquilo que pode ser o renascimento do movimento "meme stock" de 2021, depois de "Roaring Kitty" ter regressado ao X (antigo Twitter). Também as ações da AMC escalam mais de 70%.

Keith Gill - que é considerado um dos impulsionadores do movimento "meme stock" em 2021 - voltou ao X (antigo Twitter) e uma só publicação foi suficiente para alimentar a especulação de que o fenómeno está de volta. A negociação das ações da GameStop foi, entretanto, suspensa.

yggy Escreveu:a AMC hoje ja sobe 600%...