GameStop shareholders eagerly await the general meeting after it was first postponed because of too many attendees

20:19 17/06/2024

2 minutes of reading

GameStop (GME.N) shareholders are excitedly talking about the company’s upcoming annual meeting on social media.

GameStop shareholders eagerly await the general meeting after it was first postponed because of too many attendees - Techlade

The video game retailer’s stock price has fluctuated dramatically in the past month after the death of Keith Gill, the individual investor known by the nickname “Roaring Kitty” who helped spark the stock fever. meme in 2021, returns and reveals holding a large amount of GameStop stock.

The annual meeting originally scheduled to take place this Monday was postponed due to technical problems because of the large number of online attendees, according to a spokesman for Computershare, the online event organizer.

“The large number of shareholders registered to attend GameStop’s online meeting led to technical problems that prevented some investors from accessing, so the meeting had to be postponed,” Computershare said.

Analysts and investors are unclear what issues will be discussed at the meeting, nor is it clear whether Gill, who reiterated his bullish stance on GameStop in a livestream earlier this month, will attend. live or online or not.

The company’s previous shareholder meeting in June 2023 lasted less than 15 minutes and featured brief remarks from CEO Ryan Cohen.

GameStop confirmed the technical issue in a press release but did not respond to a request for further comment. Gill also did not respond to a request for comment.

However, that hasn’t stopped Roaring Kitty fans from speculating about what might take place at the meeting. Some people have created hilarious memes about the event, with one image posted on Reddit showing Gill photoshopped into an image of a rock star taking the stage in front of a rapturous crowd.

Techlade could not independently verify the authenticity of the posts and the poster did not respond to requests for comment.

Gill sparked a recent wave of frenzy among individual investors after revealing he owned 5 million GameStop shares and 120,000 $20 call options (expiring in June). ) in a screenshot posted on Reddit on June 2.

Gill updated his portfolio on Thursday, showing he now owns about 9 million shares and has no remaining company options. Gill could have sold all his options and bought shares, or sold part of his options and converted the rest into shares.

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