Home Science Technology GameStop Fans Gear Up for Rescheduled Shareholder Meeting

GameStop Fans Gear Up for Rescheduled Shareholder Meeting

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Gamestop
Gamestop

GameStop’s annual shareholder meeting, set for Monday, is generating significant excitement among its loyal retail investors.

Shares of the video game retailer have experienced considerable volatility recently, largely influenced by Keith Gill, the stock influencer known as “Roaring Kitty,” who reignited meme stock fervor in 2021. Gill’s recent reemergence and his disclosure of a substantial position in GameStop have heightened anticipation for the upcoming meeting.

Monday’s meeting, scheduled for 12:30 p.m. ET, follows a previously adjourned session this week. The adjournment was due to a technical glitch caused by an overwhelming number of shareholders attempting to access the online feed, according to a spokesperson for Computershare, the host of the online-only event.

“Unprecedented demand from shareholders wanting to access GameStop’s Annual General Meeting led to a technical issue that prevented some investors from getting through, and the meeting was adjourned,” Computershare stated.

Details about the meeting’s agenda remain unclear, and it is uncertain whether Gill, who reaffirmed his bullish stance on GameStop in a recent livestream, will attend or participate online.

GameStop’s last shareholder meeting in June 2023 lasted less than 15 minutes, featuring a brief statement from CEO Ryan Cohen. The company acknowledged the technical glitch in a press release but has not provided further comments. Gill also did not respond to requests for comment.

Despite the lack of official information, Roaring Kitty’s fans are abuzz with speculation. Some have created memes in anticipation of the meeting, including one showing Gill as a rock star on stage before a huge crowd. Reuters could not independently verify these posts, and the creators did not respond to requests for comment.

Gill’s recent disclosure of owning 5 million GameStop shares and 120,000 June $20 strike call options on June 2 fueled the latest wave of retail investor enthusiasm. He updated his position on Thursday, indicating he now holds about 9 million shares and no options, suggesting he may have converted his options to shares or sold part of his holdings.

GameStop shares closed down 1% at $28.70 on Friday but have risen 67% since May 10, when Gill returned to social media after a three-year hiatus.

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