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The game store chain
In the news:
- The game store chain gained ground after Gill announced a live stream on YouTube for tonight. It will start at noon
New York time, or6 p.m. Belgian time. -
Expectations are already high. 19,000 people have already registered for the livestream. Currently, it is unclear why Gil will be streaming again after three years. According to some rumors, the influencer might announce that he will exercise his option position in
GameStop .-
Roaring Kitty had shared a screenshot on the social media platform Reddit earlier this month showing that he had bought about
100 million euros worth ofGameStop shares. The screenshot also included 120,000 call options. Each option gave the right to buy 100 shares ofGameStop stock at$20 each byJune 21 .-
That post gave
GameStop's stock another boost. The games retailer closed the first trading day of the week 30 percent higher.
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That post gave
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So it would cost Roaring Kitty
$240 million to exercise those options. That would make him - with a stake of about$500 million - the chain's fourth-largest shareholder.
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Roaring Kitty had shared a screenshot on the social media platform Reddit earlier this month showing that he had bought about
Disappointing quarterly results
BUT: Pre-exchange,
GameStop posted first-quarter sales of$880,000 million , up from$1.2 billion a year earlier.-
The company did manage to contain its loss from
$50.5 million during the first three months of last year to$32.3 million this year.
Also this: It wasn't just the results that disappointed shareholders.
- A prospectus filed with the
U.S. stock market watchdogSEC allows the game store chain to sell up to 75 million shares on the exchange.GameStop did the same in late May. The sale then raised nearly$1 billion .
Noted: Meanwhile,
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