GameStop meme stock mania is SEC’s bad dream on repeat

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GameStop shares remain volatile after the company's annual meeting and amid updates from 'Roaring Kitty' on the value of his stake in the troubled video game retailer.

GameStop investors got another news dump on Monday, this time from the company at its annual shareholders meeting. CEO Ryan Cohen told investors the video game retailer plans to "continue reducing costs and focusing on profitability," without elaborating. Shares fell 12% and slipped further on Tuesday, but are still up over 100% this quarter amid extreme volatility.

" Gill has since followed with vague social media posts open to interpretation, including one late Monday showing former tennis legend John McEnroe during his professional playing years. McEnroe was famous for his volatile on-court temper. Gill's livestream in early June, which drew in about 600,000, did not provide much new detail, but he did endorse Cohen’s leadership.

 

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GameStop stock plummets as ‘Roaring Kitty’ rambles on live streamIt was the first public appearance in years for Keith Gill, who this week proved once again that his slightest online move can spark dramatic swings in the prices of meme stocks.
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