GameStopped: How A Meme Stock Controversy Led The SEC Astray (2024)

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GameStopped: How A Meme Stock Controversy Led The SEC Astray (2024)

FAQs

How much did Keith Gill make from GameStop? ›

The profit on Keith Gill's GameStop trades

It consisted of two parts: 5 million shares of GameStop stock purchased for $21.27, worth approximately $116 million at the time of the post. 120,000 June 2024 $20 call options purchased for about $5.68, worth nearly $66 million at the time of the post.

What is happening to GameStop? ›

GameStop's revenue has also been on a decline, falling from $6 billion in fiscal 2022 (fiscal ends in January) to $$5.3 billion in fiscal 2024. Although the company's reported earnings did improve from $(1.31) to $0.02 over the same period, its margins are very thin.

What was the meme stock frenzy? ›

GameStop Corp. reawakened the “meme stock” animal spirits twice since May, spurred by a well-known Reddit user who set off the first frenzy in 2021. A smattering of meme moments this year have caused multibillion-dollar stock moves — and big losses for investors who were late to the trade.

Who owns the most GameStop stock? ›

What percentage of GameStop (GME) stock is held by retail investors? According to the latest TipRanks data, approximately 65.37% of GameStop (GME) stock is held by retail investors. Who owns the most shares of GameStop (GME)? Vanguard owns the most shares of GameStop (GME).

What happened to Keith Gill's sister? ›

Despite The Big Short-ish pace and rapid-fire gags, there's a sadness hanging over Dumb Money. Its characters are desperate people - Gill's sister died of COVID six months before the film begins - and the GameStop saga was a release for them, furnishing this online community with a purpose.

Why is GameStop crashing? ›

GameStop stock is crashing after the company reported weak sales and cashed in on the meme stock revival by selling 45 million shares. In this article: GME.

Why is GameStop being halted? ›

GameStop shares halted twice for volatility as stock surges.

Why did GameStop shares drop? ›

The company's stock traded as low as $24.10 following the meeting, a more than 16% drop that came after Cohen largely strayed away from discussing or referencing the meme stock trading around GameStop and said the retailer would be focusing on “a smaller network of stores” moving forward.

What is the most shorted meme stock? ›

Some of the most heavily shorted names are seeing rallies in Monday's premarket action, including shares of SunPower and MicroCloud Hologram, up 13%. Those two top the list of the most shorted stocks on MarketWatch's data pages.

Why is it called meme stock? ›

(GME) and AMC Entertainment Holdings, Inc. (AMC). Named after the virality of internet memes found on social media, these stocks saw online communities form around them to boost and hype their prospects, even though meme company fundamentals remained questionable.

Is GameStop a good stock to buy? ›

GME Stock 12 Month Forecast

Based on 1 Wall Street analysts offering 12 month price targets for GameStop in the last 3 months. The average price target is $11.00 with a high forecast of $11.00 and a low forecast of $11.00. The average price target represents a -54.03% change from the last price of $23.93.

What is GameStop total net worth? ›

GameStop has a market cap or net worth of $10.20 billion as of June 21, 2024. Its market cap has increased by 24.19% in one year.

How much money has GameStop made? ›

GameStop revenue for the twelve months ending April 30, 2024 was $4.918B, a 15.01% decline year-over-year. GameStop annual revenue for 2024 was $5.273B, a 11.04% decline from 2023. GameStop annual revenue for 2023 was $5.927B, a 1.39% decline from 2022.

What was the highest value of GME? ›

The highest closing price for GameStop (GME) all-time was $86.88, on January 27, 2021. The latest price is $23.93.

How much cash on hand does GME have? ›

According to GameStop 's latest financial reports the company has $1.19 B in cash and cash equivalents.

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