Meme stock icon “Roaring Kitty” allegedly duped his millions of internet followers with a “pump-and-dump” scheme by revealing his position in video game retailer GameStop without disclosing when he bought the options, according to a bombshell class-action lawsuit.Keith Gill, the former financial analyst for MassMutual who sparked the meme-stock frenzy in 2021 by using his internet alter-ego Roaring Kitty, was slapped with a securities fraud suit by several GameStop shareholders in Brooklyn federal court.Gil ...

Is one of the most powerful investing influences guilty of market manipulation? A recent lawsuit filed by the Eastern District of New York alleges that Keith Gill, known on social media as Roaring Kitty, has engaged in a pump-and-dump scheme involving GameStop (NYSE:GME) stock.Gill is famous for helping engineer the short squeeze of 2021, which took GME stock to new heights. But now it seems that the influencer, who recently returned to X, formerly Twitter, after a multi-year hiatus, may have done so with a ...

GameStop (NYSE:GME) stock has regained investor attention despite underlying financial vulnerabilities. Q1 2024 revenue dropped 29% to $881.8 million, resulting in a $32.3 million operating loss. Digital gaming posed a challenge to GameStop’s physical sales model. Despite a temporary stock price increase, the company’s financial struggles and market erosion persist amid inflated valuation multiples.GameStop in 2024 is flashy but volatile. Sustainable wealth beats risky quick gains. Before hoarding some GME ...

NEW YORK, June 30, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed on behalf of investors of GameStop Corp. (“GameStop” or the “Company”) (NYSE: GME) securities. The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 24-cv-04608, is on behalf of a class consisting of all persons and entities other than Defendant that purchased or otherwise acquired GameStop securities between May 13, 2024 and June 13, 2 ...

GameStop (GME) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this video game retailer have returned +11% over the past month versus the Zacks S&P 500 composite's +3.5% change. The Zacks Gaming industry, to which GameStop belongs, has gained 16.3% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors about ...

Keith Gill, famously known as Roaring Kitty, has notably returned to social media, sparking market excitement. On June 27, Gill posted an image of a cartoon dog with its tongue hanging out on X, leading to speculation that Chewy’s (NYSE: CHEWY) stock, an American online retailer of pet food and other pet-related products, might be his next target.  This simple post caused CHWY shares to surge by over 27% in early trading, reaching daily highs of $35.75, although the stock later gave up most of these investm ...

Stocks have had a strong year so far, with share prices rising approximately 50% since bottoming in October 2022. This is the best performance since 1957. However, historically, traders are looking for certain stocks to sell during substantial growth. Typically, stocks experience some pullback, defined as a 10% decline from the recent high. While they do not seem ready to sell yet, there are hints of unease as investors worry about the concentration of gains within a small group of large tech companies.In f ...

In 2021, a trader with a large Reddit following induced a massive rally in shares of GameStop Corp. NYSE: GME. The downtrodden gaming retailer was the most shorted stock in the entire market in January 2021, but the retail buying frenzy triggered a massive run-up in price as hedge funds were forced to cover their short positions to prevent huge losses.GameStop shares rallied from under $5 to over $80 (split-adjusted) in just under three weeks, igniting sympathy rallies in other heavily shorted stocks like A ...

GameStop (NYSE:GME) stock is fading. Shares of the video game retailer have lost almost two-thirds of the value gained after the recent run-up caused by Roaring Kitty’s return to social media. Despite Keith Gill’s belief in the company and significant ownership, investors question the timing of buying GameStop stock.Despite the video game retailer sitting 140% above the lows hit prior to the revival of meme stock trading, the trading frenzy has subsided. Is having faith in CEO Ryan Cohen’s ability to turn t ...

GameStop (NYSE: GME) stock price has retreated sharply in the past few weeks as the meme mania faded. After soaring to $65.20 in May, it has plunged by over 62% to the current $24.93, costing investors over $1 billion.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.The good and the uglyCopy link to sectionGameStop, a video game retailer, has become one of the luckiest companies in the United States. In 2021, it became the poster child of the meme stoc ...