• GameStop’s stock price (GME) has shed all of its gains from last month, turning negative over the past month
• The stock’s recent decline coincides with the disappearance of Keith Gill (Roaring Kitty/DeepFuckingValue) from the spotlight after briefly returning
• Gill exercised some of his GME options, boosting his holding to over 9 million shares worth around $206 million currently, but has not posted any updates since June 13th
GameStop’s stock price continues to fall as prominent trader Keith Gill, known as Roaring Kitty, stays quiet. The price is now down over the past month, erasing recent gains.
GameStop’s Stock Price Keeps Dropping
- GME is trading at $230, down nearly 3% since Monday’s close and 7% over the past week.
- The stock price has turned negative by just over 3% for the month, a big shift from three weeks ago.
- At that time, the price had spiked to a monthly high of $465 as Gill revealed his $600 million position.
- If the price had continued climbing to $65, his holdings could have been worth $1 billion. But that didn’t happen.
Gill Stays Silent as Momentum Slows
- GME quickly lost momentum as the company reported a down quarter.
- Gill’s first livestream in three years got mixed reviews. He joked about the lost chances at $1 billion in typical fashion.
- Gill exercised some options to boost his GME holdings from 5 million shares to over 9 million, now worth around $206 million.
- He hasn’t posted on Reddit since June 13 or Twitter for over a week.
No Roaring Kitty Hype at Shareholder Meeting
- Rumors that Gill would be named to GameStop’s board were proven false when last week’s shareholder meeting came and went without mentioning him.
- Meme stocks need constant hype from influencers and online communities to stay hot.
- GME price spikes when Gill is active, then cools off when he disappears.
- Eager investors are surely waiting to see if he can spark another surge in July.
Conclusion
GME’s downward slide has continued with Gill’s retreat from the spotlight. The stock has now given up all gains over the past month. It remains to be seen whether the prominent trader can reignite interest next month.
