Video game retailer GameStop (GME) is holding its annual shareholder meeting today (June 17) amid ongoing volatility in the company’s stock.
The shareholder meeting was supposed to be held on June 14 but was postponed after a flood of retail investors crashed the company’s servers that were to livestream the event online.
Shares of GameStop have been on a wild ride since mid-May after Keith Gill, aka “Roaring Kitty,” who led the 2021 meme stock rally, reappeared on social media.
Gill has disclosed a large position in GameStop stock and is once again talking up the company and its shares online.
The annual shareholder meeting arrives as investors and analysts have several questions for management concerning the current volatility in the stock and also the company’s future.
It is not known what issues management plans to discuss at the meeting or whether Gill himself will attend the event.
The company’s previous shareholder meeting in June 2023 lasted less than 15 minutes and included only a brief statement from chief executive officer (CEO) Ryan Cohen.
Gill’s social media posts and a livestream event held on YouTube June 7 have sparked renewed volatility in GameStop stock, with the shares rising and falling sharply.
Gill most recently disclosed that he now owns nine million shares of GameStop stock worth $258.3 million U.S. based on the current share price.
GameStop’s stock has risen 67% since May 10 when Gill resurfaced after a three-year hiatus.
However, GameStop’s share price remains 65% below its 2021 peak during the meme stock rally.
Tech Insider
