Gain detailed insights into the trading activity of Congress members for GameStop on our government trades page. Stay updated on how elected officials are investing in GME.

GameStop - Government Trades

GameStop

GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.

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What&#39;s Going On With GameStop Stock?

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Whales with a lot of money to spend have taken a noticeably bearish stance on GameStop.
Looking at options history for GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $195,560 and 15, calls, for a total amount of $830,163.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $40.0 for GameStop during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in GameStop's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to GameStop's substantial trades, within a strike price spectrum from $15.0 to $40.0 over the preceding 30 days.
<h3>GameStop Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722021356_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$7.7</td>
<td>$6.5</td>
<td>$7.7</td>
<td>$20.00</td>
<td>$192.5K</td>
<td>6.0K</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$6.55</td>
<td>$6.2</td>
<td>$6.55</td>
<td>$26.00</td>
<td>$131.0K</td>
<td>398</td>
<td style="text-align: right;">302</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$0.36</td>
<td>$0.34</td>
<td>$0.35</td>
<td>$23.50</td>
<td>$91.9K</td>
<td>1.3K</td>
<td style="text-align: right;">304</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$6.6</td>
<td>$6.2</td>
<td>$6.55</td>
<td>$26.00</td>
<td>$65.5K</td>
<td>398</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$10.0</td>
<td>$9.6</td>
<td>$10.0</td>
<td>$15.00</td>
<td>$50.0K</td>
<td>1.8K</td>
<td style="text-align: right;">53</td>
</tr>
</tbody>
</table>

<h3>About GameStop</h3>
GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.
<h3>GameStop's Current Market Status</h3>
<ul>
<li>With a trading volume of 5,295,520, the price of GME is up by 2.05%, reaching $24.44.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 40 days from now.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GameStop options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

GameStop Unusual Options Activity

Famed short seller Andrew Left was charged with fraud on Friday. Federal prosecutors allege that Left manipulated stock prices for his <a href="https://www.benzinga.com/topic/andrew-left">own financial benefit.</a>
What Happened: Left, the founder of Citron Research, is accused of using his influence to manipulate stock prices in his favor, according to a <a href="https://www.wsj.com/finance/stocks/u-s-accuses-prominent-short-seller-andrew-left-of-fraud-0161e42f?mod=latest_headlines">report</a> by The Wall Street Journal. The charges imply that Left would publicize his bets, set ambitious price targets and then quickly close his positions once his statements had affected the market.
The indictment asserts that Left&#8217;s appearances on cable news networks and his social media posts amplified the effects of his reports, leading others to follow his investment moves. &#8220;He used his platform as a securities commentator to manipulate the markets and enrich himself in the process,&#8221; said Los Angeles U.S. Attorney Martin Estrada.
Benzinga requested a comment from Left but has not received a response at the time of publication.
See Also: <a href="https://www.benzinga.com/news/24/07/39979855/elon-musks-x-shares-your-posts-on-his-social-media-platform-with-grok-for-training-heres-how-you-can">Elon Musk&#8217;s X Shares Your Posts On His Social Media Platform With Grok For Training: Here&#8217;s How You Can Disable It</a>
Left, based in Boca Raton, is facing criminal charges accusing him of securities fraud and making false statements to federal investigators. The indictment said he manipulated the prices of at least 15 stocks over a five-year period, resulting in illegal profits amounting to $16 million.
Prosecutors accuse Left of concealing his ties to hedge funds that were given early access to his research. In some instances, he is alleged to have presented their trading ideas as his own. If found guilty, Left could face up to 20 years in prison for each of the 17 securities fraud counts, 25 years for another securities fraud charge, and five years for one count of lying to investigators, according to WSJ.
Additionally, the Securities and Exchange Commission has <a href="https://www.sec.gov/newsroom/press-releases/2024-89">filed </a>a civil securities fraud lawsuit against Left and Citron, accusing them of &#8220;engaging in a $20 million multi-year scheme to defraud followers by publishing false and misleading statements regarding his supposed stock trading recommendations.&#8221;
"Andrew Left took advantage of his readers. He built their trust and induced them to trade on false pretenses so that he could quickly reverse direction and profit from the price moves following his reports," said Kate Zoladz, director of the SEC's Los Angeles Regional Office.
The SEC's complaint alleges that Left used his Citron Research website and social media platforms to publicly recommend stock positions that he quickly reversed for profit. The complaint further alleges that Left falsely represented Citron Research as an independent outlet and hid compensation arrangements with hedge funds.
Why It Matters: This indictment marks a significant turn of events for Left, who has been a prominent figure in the world of short selling. Left&#8217;s firm, Citron Research, has been known for its controversial reports on various companies, often leading to significant stock price movements.
Earlier this month, <a href="https://www.benzinga.com/markets/equities/24/07/39588165/roaring-kittys-200m-chewy-bet-gets-unlikely-this-is-his-own-money-response-from-citron-andrew-le">Citron Research questioned</a> Keith Gill&#8216;s, also known as Roaring Kitty, $200-million investment in Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), suggesting that it may not be Gill&#8217;s own money. This came after Left revealed that he had a <a href="https://www.benzinga.com/short-sellers/24/06/39217978/exclusive-andrew-left-has-small-position-short-in-gamestop-as-roaring-kitty-nears-youtube-return-im">small short position</a> in GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) as Gill neared a YouTube return.
The Last Word: Left&#8217;s indictment also brings attention to the future of short selling and its potential impact on the markets. Short sellers play an important role in identifying overpriced shares and uncovering fraud. Cases like those announced Friday could result in heightened scrutiny and possible regulation within the industry.
Read Next:
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<li> <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Era White House Official Anthony Scaramucci Says Kamala Harris Is Capable And Has A Great Team</a></li>
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.

SEC Sues Andrew Left And Citron Capital Over Stock Short Sales; SEC Alleges Left, Citron Committed Fraud With Reports, Trading

GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) saw a slight drop in its share price on Thursday. Here&#8217;s <a href="https://www.benzinga.com/quote/GME/analyst-ratings">what you need to know.</a>
What To Know: Institutional investors have largely taken a bearish stance on GME, with 21 uncommon options trades. Out of these trades, 90% were bearish, including 9 put options totaling $416,979 and 12 call options amounting to $476,016.
This sentiment mirrors recent activity in AMC Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), where a boost in the stock price followed <a href="https://www.benzinga.com/news/24/07/39968468/whats-going-on-with-amc-entertainment-stock-on-thursday">Imax Corp's upbeat earnings.</a> Both GME and AMC have seen significant options trading.
GameStop&#8217;s price targets range from $10 to $125, while AMC&#8217;s stock has benefited from Imax&#8217;s strong performance and a bullish outlook on movie-going.
<h3 class="wp-block-heading">Will GameStop Shares Go Up?</h3>
When trying to assess whether or not GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $9 on GameStop. The Street high target is currently at $11 and the Street low target is $7. Of all the analysts covering GameStop, no one has positive ratings, no one has neutral ratings and two have negative ratings.
In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/GME/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering GameStop have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. GameStop is 8.82% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.
For a broad overview of everything you need to know about GameStop, visit <a href="https://www.benzinga.com/quote/GME">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
GME Price Action: GameStop finished 0.25% lower at $23.95 on Thursday, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="540" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-1024x540.png" alt="" class="wp-image-457804" style="width:454px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-1024x540.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-768x405.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1.png 1105w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39968468/whats-going-on-with-amc-entertainment-stock-on-thursday">What&#8217;s Going On With AMC Entertainment Stock On Thursday?</a></li>
</ul>
Image Via Shutterstock.

What's Going On With GameStop Shares Today?

Investors with a lot of money to spend have taken a bearish stance on GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GME, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 21 uncommon options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 4% bullish and 90%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $416,979, and 12 are calls, for a total amount of $476,016.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $125.0 for GameStop over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for GameStop's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of GameStop's whale trades within a strike price range from $10.0 to $125.0 in the last 30 days. 
<h3>GameStop Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721836875_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$96.6</td>
<td>$96.6</td>
<td>$96.6</td>
<td>$120.00</td>
<td>$67.6K</td>
<td>708</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$8.9</td>
<td>$8.75</td>
<td>$8.75</td>
<td>$20.00</td>
<td>$65.6K</td>
<td>12.3K</td>
<td style="text-align: right;">84</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.9</td>
<td>$2.89</td>
<td>$2.9</td>
<td>$15.00</td>
<td>$58.0K</td>
<td>4.3K</td>
<td style="text-align: right;">213</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$6.95</td>
<td>$6.65</td>
<td>$6.64</td>
<td>$25.00</td>
<td>$56.6K</td>
<td>4.0K</td>
<td style="text-align: right;">237</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$1.3</td>
<td>$1.22</td>
<td>$1.3</td>
<td>$20.00</td>
<td>$50.8K</td>
<td>3.6K</td>
<td style="text-align: right;">604</td>
</tr>
</tbody>
</table>

<h3>About GameStop</h3>
GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.
<h3>GameStop's Current Market Status</h3>
<ul>
<li>With a volume of 4,764,088, the price of GME is down -3.49% at $24.61. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 42 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GameStop options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Market Whales and Their Recent Bets on GME Options

Editor&#8217;s note: This story has been updated to reflect that AMC Entertainment shares resumed trading Monday afternoon.
AMC Entertainment Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) shares were halted Monday afternoon following a report indicating the company plans to restructure its debt load. AMC formally <a href="https://www.benzinga.com/pressreleases/24/07/b39890741/amc-entertainment-holdings-inc-announces-collaborative-refinancing-transactions-that-extend-up-to-">announced the plans shortly after</a>.
What Happened: AMC shares began perking up after Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-22/amc-to-restructure-debt-load-using-theaters-to-support-deal?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a> that AMC reached an agreement with creditors that included a restructuring of its debt and an asset shift involving its U.S. theaters. People with knowledge of the plans reportedly said AMC will move its U.S. theaters into a different unit of the company to allow it to exchange its existing debt for new obligations backed by those theater locations. 
Shortly after the report surfaced, AMC shares were halted as the company put out a <a href="https://www.benzinga.com/pressreleases/24/07/b39890741/amc-entertainment-holdings-inc-announces-collaborative-refinancing-transactions-that-extend-up-to-">press release</a> detailing the refinancing transactions. The company said it will issue $1.2 billion of new secured term loans due 2029 in consideration for an open market purchase of senior secured term loans due 2026. AMC also said it exchanged $500 million of 10%/12% cash/PIK toggle second lien subordinated secured notes due 2026 into new secured term loans due 2029.
AMC will also have the opportunity to reduce debt by $464 million through the conversion of exchangeable notes into equity. 
&#8220;This transaction represents yet another bold and innovative step that AMC is taking to ensure a successful recovery from the unprecedented box office challenges of the last few years. Not only have our lenders agreed to extend our debt maturities but we have also created the potential for significant debt reduction as the industry recovers,&#8221; said Adam Aron, chairman and CEO of AMC.
The stock resumed trading at 2:41 p.m. ET. 
Don&#8217;t Miss: <a href="https://www.benzinga.com/general/entertainment/24/07/39806439/good-news-for-cinemark-amc-stock-new-report-predicts-2026-cinema-revenue-passing-pre-covid-">Good News For Cinemark, AMC Stock? New Report Predicts 2026 Cinema Revenue Passing Pre-COVID-19 Levels — But There&#8217;s A Catch</a>
The news comes as AMC continues to battle movie ticket sales trends that remain below pre-pandemic levels. Many believed the COVID-19 pandemic would lead to the undoing of AMC, but the company has stayed afloat in recent years, bolstered by retail support for the movie theater giant.
&#8220;The box office challenges of the first half of 2024 are now in the rearview mirror. The recovery momentum is back. We expect strong year-over-year box office growth in the back half of 2024, continuing into 2025 and 2026,&#8221; Aron said.
AMC shares have showed some signs of life in recent months alongside several other meme stocks following the social media return of GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) trader&nbsp;Keith Gill, also known as <a href="https://www.benzinga.com/topic/keith-gill">Roaring Kitty</a>.
AMC took advantage of the renewed interest, entering into agreements to&nbsp;issue stock in exchange for notes. The movie theater chain also recently said that it raised&nbsp;approximately&nbsp;$250 million&nbsp;of new equity capital through the sale of 72.5 million shares from an offering it launched in March.
Before Monday&#8217;s announcement, AMC had $4.5 billion in long-term borrowings. The company also had more than $2.8 billion of maturities due in 2026 as of March 31.
AMC Price Action: AMC shares were halted for pending news at last check. The stock was up 2.4% at $5.13 when it last traded at 1:40 p.m. ET, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: <a href="https://www.flickr.com/photos/davedugdale/">Dave Dugdale</a> from Flickr.

AMC Entertainment Announces Restructuring Of Debt Load, Adam Aron Says Box Office Challenges Are In 'Rearview Mirror' (UPDATED)

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$250.00</td>
<td>$26.5K</td>
<td>13.1K</td>
<td>37.1K</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$50.00</td>
<td>$42.5K</td>
<td>26.3K</td>
<td>3.7K</td>
</tr>
<tr>
<td>MCFT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$17.50</td>
<td>$113.8K</td>
<td>1.2K</td>
<td>1.9K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$20.00</td>
<td>$53.4K</td>
<td>8.5K</td>
<td>1.7K</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$80.00</td>
<td>$73.7K</td>
<td>14.2K</td>
<td>1.5K</td>
</tr>
<tr>
<td>JMIA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$13.00</td>
<td>$214.0K</td>
<td>1.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$200.00</td>
<td>$26.0K</td>
<td>6.6K</td>
<td>504</td>
</tr>
<tr>
<td>JD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$23.00</td>
<td>$34.7K</td>
<td>306</td>
<td>334</td>
</tr>
<tr>
<td>PDD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$150.00</td>
<td>$26.5K</td>
<td>224</td>
<td>95</td>
</tr>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$240.00</td>
<td>$29.8K</td>
<td>987</td>
<td>81</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on July 26, 2024. This event was a transfer of 22 contract(s) at a $250.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $1205.0 per contract. There were 13172 open contracts at this strike prior to today, and today 37141 contract(s) were bought and sold. 
• Regarding GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we observe a call option trade with bearish sentiment. It expires in 25 day(s) on August 16, 2024. Parties traded 250 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $42.5K, with a price of $170.0 per contract. There were 26305 open contracts at this strike prior to today, and today 3774 contract(s) were bought and sold. 
• For MCFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCFT#NASDAQ">MCFT</a>), we notice a put option trade that happens to be bearish, expiring in 60 day(s) on September 20, 2024. This event was a transfer of 1897 contract(s) at a $17.50 strike. The total cost received by the writing party (or parties) was $113.8K, with a price of $60.0 per contract. There were 1248 open contracts at this strike prior to today, and today 1904 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a call option trade with bearish sentiment. It expires in 25 day(s) on August 16, 2024. Parties traded 99 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $53.4K, with a price of $540.0 per contract. There were 8557 open contracts at this strike prior to today, and today 1702 contract(s) were bought and sold. 
• Regarding NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we observe a call option sweep with neutral sentiment. It expires in 88 day(s) on October 18, 2024. Parties traded 250 contract(s) at a $80.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $73.7K, with a price of $295.0 per contract. There were 14294 open contracts at this strike prior to today, and today 1587 contract(s) were bought and sold. 
• Regarding JMIA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NYSE">JMIA</a>), we observe a call option trade with bearish sentiment. It expires in 116 day(s) on November 15, 2024. Parties traded 500 contract(s) at a $13.00 strike. The total cost received by the writing party (or parties) was $214.0K, with a price of $428.0 per contract. There were 1122 open contracts at this strike prior to today, and today 1027 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option trade with bullish sentiment. It expires in 88 day(s) on October 18, 2024. Parties traded 41 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $635.0 per contract. There were 6666 open contracts at this strike prior to today, and today 504 contract(s) were bought and sold. 
• For JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we notice a put option trade that happens to be bearish, expiring in 151 day(s) on December 20, 2024. This event was a transfer of 334 contract(s) at a $23.00 strike. The total cost received by the writing party (or parties) was $34.7K, with a price of $104.0 per contract. There were 306 open contracts at this strike prior to today, and today 334 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a call option sweep with bullish sentiment. It expires in 39 day(s) on August 30, 2024. Parties traded 90 contract(s) at a $150.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $299.0 per contract. There were 224 open contracts at this strike prior to today, and today 95 contract(s) were bought and sold. 
• For LOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), we notice a call option trade that happens to be bearish, expiring in 88 day(s) on October 18, 2024. This event was a transfer of 25 contract(s) at a $240.00 strike. The total cost received by the writing party (or parties) was $29.8K, with a price of $1195.0 per contract. There were 987 open contracts at this strike prior to today, and today 81 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

JMIA

MCFT

Citigourp Global Markets 2% Protected Notes Linked To The Djia

10 Consumer Discretionary Stocks Whale Activity In Today's Session

GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has outperformed the market over the past 20 years by 5.26% on an annualized basis producing an average annual return of 13.63%. Currently, GameStop has a market capitalization of $10.57 billion. 
Buying $1000 In GME: If an investor had bought $1000 of GME stock 20 years ago, it would be worth $13,122.44 today based on a price of $24.79 for GME at the time of writing.
<h3>GameStop's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658616_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $13,000 Today

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$245.00</td>
<td>$26.3K</td>
<td>16.6K</td>
<td>99.6K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$28.00</td>
<td>$28.1K</td>
<td>7.0K</td>
<td>4.6K</td>
</tr>
<tr>
<td>BYON</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$15.00</td>
<td>$39.7K</td>
<td>8.2K</td>
<td>4.5K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.50</td>
<td>$29.5K</td>
<td>10.9K</td>
<td>3.6K</td>
</tr>
<tr>
<td>CVNA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$75.00</td>
<td>$28.0K</td>
<td>15</td>
<td>2.0K</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$75.00</td>
<td>$43.5K</td>
<td>2.5K</td>
<td>1.3K</td>
</tr>
<tr>
<td>RSI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$5.00</td>
<td>$125.0K</td>
<td>2.5K</td>
<td>1.2K</td>
</tr>
<tr>
<td>BABA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$72.50</td>
<td>$82.1K</td>
<td>23.9K</td>
<td>854</td>
</tr>
<tr>
<td>W</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$55.00</td>
<td>$819.7K</td>
<td>8.3K</td>
<td>838</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$76.00</td>
<td>$33.0K</td>
<td>3.3K</td>
<td>748</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be bullish, is expiring today. Parties traded 46 contract(s) at a $245.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.3K, with a price of $580.0 per contract. There were 16686 open contracts at this strike prior to today, and today 99611 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on July 26, 2024. Parties traded 406 contract(s) at a $28.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $28.1K, with a price of $69.0 per contract. There were 7096 open contracts at this strike prior to today, and today 4664 contract(s) were bought and sold. 
• Regarding BYON (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>), we observe a call option sweep with bullish sentiment. It expires in 63 day(s) on September 20, 2024. Parties traded 185 contract(s) at a $15.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $39.7K, with a price of $215.0 per contract. There were 8276 open contracts at this strike prior to today, and today 4514 contract(s) were bought and sold. 
• Regarding LCID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), we observe a put option trade with bearish sentiment. It expires in 182 day(s) on January 17, 2025. Parties traded 279 contract(s) at a $3.50 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $106.0 per contract. There were 10926 open contracts at this strike prior to today, and today 3661 contract(s) were bought and sold. 
• Regarding CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we observe a put option sweep with bearish sentiment. It expires in 14 day(s) on August 2, 2024. Parties traded 1000 contract(s) at a $75.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $28.0K, with a price of $29.0 per contract. There were 15 open contracts at this strike prior to today, and today 2000 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on July 26, 2024. Parties traded 500 contract(s) at a $75.00 strike. This particular call needed to be split into 46 different trades to become filled. The total cost received by the writing party (or parties) was $43.5K, with a price of $87.0 per contract. There were 2551 open contracts at this strike prior to today, and today 1384 contract(s) were bought and sold. 
• For RSI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSI#NYSE">RSI</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 250 contract(s) at a $5.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $125.0K, with a price of $500.0 per contract. There were 2593 open contracts at this strike prior to today, and today 1250 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a put option sweep that happens to be bullish, expiring in 28 day(s) on August 16, 2024. This event was a transfer of 501 contract(s) at a $72.50 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $82.1K, with a price of $164.0 per contract. There were 23975 open contracts at this strike prior to today, and today 854 contract(s) were bought and sold. 
• Regarding W (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), we observe a put option trade with bearish sentiment. It expires in 28 day(s) on August 16, 2024. Parties traded 1171 contract(s) at a $55.00 strike. The total cost received by the writing party (or parties) was $819.7K, with a price of $700.0 per contract. There were 8341 open contracts at this strike prior to today, and today 838 contract(s) were bought and sold. 
• For NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we notice a call option sweep that happens to be bearish, expiring in 7 day(s) on July 26, 2024. This event was a transfer of 2105 contract(s) at a $76.00 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $33.0K, with a price of $15.0 per contract. There were 3373 open contracts at this strike prior to today, and today 748 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BABA

BYON

CVNA

LCID

SBUX

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

Whales with a lot of money to spend have taken a noticeably bullish stance on GameStop.
Looking at options history for GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 35% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $303,127 and 5, calls, for a total amount of $255,604.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $125.0 for GameStop over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of GameStop stands at 4554.45, with a total volume reaching 3,036.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GameStop, situated within the strike price corridor from $20.0 to $125.0, throughout the last 30 days.
<h3>GameStop 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721313144_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$7.15</td>
<td>$6.75</td>
<td>$7.0</td>
<td>$25.00</td>
<td>$70.0K</td>
<td>2.6K</td>
<td>8</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$3.7</td>
<td>$3.55</td>
<td>$3.6</td>
<td>$25.00</td>
<td>$64.8K</td>
<td>5.6K</td>
<td>564</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$2.8</td>
<td>$2.66</td>
<td>$2.77</td>
<td>$25.00</td>
<td>$55.0K</td>
<td>27.5K</td>
<td>1.5K</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$5.5</td>
<td>$5.1</td>
<td>$5.1</td>
<td>$27.00</td>
<td>$50.9K</td>
<td>196</td>
<td>5</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$1.13</td>
<td>$1.1</td>
<td>$1.13</td>
<td>$35.00</td>
<td>$40.6K</td>
<td>6.6K</td>
<td>339</td>
</tr>
</tbody>
</table>

<h3>About GameStop</h3>
GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.
Having examined the options trading patterns of GameStop, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of GameStop</h3>
<ul>
<li>Trading volume stands at 3,713,144, with GME's price up by 0.18%, positioned at $28.03.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 48 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GameStop options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Decoding GameStop's Options Activity: What's the Big Picture?

Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) founder Ryan Cohen has sparked speculation after posting the word &#8220;TRUMP&#8221; 665 times on Elon Musk&#8216;s social media platform, X.
What Happened: Cohen&#8217;s cryptic message has left the internet abuzz with theories about its meaning. The post comes after Cohen, a Canadian entrepreneur and activist investor, recently endorsed former President Donald Trump following an assassination attempt on Trump.
Several social media users engaged with Cohen&#8217;s post, encouraging others to decode the message, and prompting some to count how many times the word &#8220;TRUMP&#8221; appeared in the text.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP…
&mdash; Ryan Cohen (@ryancohen) <a href="https://twitter.com/ryancohen/status/1813687894324002891?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump was shot and wounded while addressing a campaign rally near Butler, Pennsylvania, on Jul. 13. Cohen, who is also the CEO of GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), has seen the company&#8217;s stock rise over 7% since the start of the week, following his Trump endorsement.
GameStop has had a strong year in the market, with its stock up by 67% in the first seven months of 2024.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens&#8217;</a>
Why It Matters: Cohen is known for his business acumen and foresight. His e-commerce venture, Chewy, was founded in 2011 and later sold to PetSmart for $3.35 billion in 2017, marking the largest e-commerce acquisition at the time. Cohen&#8217;s early recognition of the growing trend in pet supplies and pet health products has been <a href="https://www.benzinga.com/trading-ideas/24/07/39756943/ryan-cohen-the-goat-fresh-data-shows-chewy-mastermind-anticipated-massive-trends-in-pet-supplies">praised as a masterstroke</a>.
Meanwhile, the tech industry&#8217;s support for Trump has been a topic of debate. Billionaires, including those from Silicon Valley, have been <a href="https://www.benzinga.com/news/24/06/39244498/ex-white-house-aide-scaramucci-says-silicon-valley-taking-dangerous-approach-by-backing-trump-doesnt">publicly endorsing and fundraising</a> for Trump, a move that has been criticized as a &#8220;dangerous approach&#8221; by some, including former White House Director Anthony Scaramucci.
Musk, the CEO of Tesla Inc., has also been in the spotlight for supporting Trump. Musk, who initially stated that he would not donate to either Trump or Joe Biden in the 2024 presidential election, has since publicly endorsed Trump and <a href="https://www.benzinga.com/news/24/07/39804113/exclusive-elon-musk-is-burning-his-own-blue-bridges-by-donating-to-trump-says-market-expert">reportedly donated millions of dollars</a> to a political action committee.
While the implications of Cohen&#8217;s endorsement and his recent cryptic message are yet to be fully understood, they add an intriguing layer to the ongoing intersection of tech, business, and politics.
Price Action: GameStop stock closed at $27.98, down 1.96% on Wednesday. In after-hours trading, the stock price decreased by 0.64%. Over the past five days, the stock has risen by 10.01%, and year-to-date, it has increased by 67.85%.
Meanwhile, Chewy stock closed at $26.82, showing a decrease of 2.72%. After hours, the stock price slightly increased by 0.037%. Over the past five days, the stock has gained 3.23%; year-to-date, it has risen by 20.00%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Key Apple, Nvidia Supplier TSMC&#8217;s Shares Are Plunging In Wednesday&#8217;s Premarket</a></li>
</ul>
Image Via Flickr 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Chewy Founder, GameStop CEO Ryan Cohen Posts 'TRUMP' 665 Times On Elon Musk's X: Cryptic Message Has Internet Guessing

Cryptocurrencies linked to legendary trader &#8220;Roaring Kitty" surged higher Tuesday on high short interest in meme stock, GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
What Happened: GameStop (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GME</a>), the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin that pays tribute to the historic 2021 short squeeze, jumped 10% in the last 24 hours.&nbsp;
Additionally, Kitty AI (CRYPTO: KITTY) shot up 25%, with a 10% jump in 24-hour trading volumes.&nbsp;
Both of these memecoins have no fundamental ties to GameStop or Roaring Kitty but are just playing on <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">the speculations of a short squeeze of the meme stock </a>and a possible repetition of the 2021 event.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39785549/pepe-dogwifhat-floki-explode-amid-searing-memecoin-rally-dogecoin-shiba-inu-rise-as-well">Pepe, dogwifhat, Floki Explode Amid Searing Memecoin Rally — Dogecoin, Shiba Inu Rise As Well</a>
Why It Matters: Keith Gill, better known online as &#8220;Roaring Kitty,&#8221;<a href="https://www.benzinga.com/markets/equities/24/06/39128364/roaring-kitty-just-posted-a-reverse-uno-card-what-does-it-signal-for-gamestop-amc-shares"> </a>has <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39128955/roaring-kittys-new-social-post-pushes-gamestop-themed-crypto-by-200-kitty-themed-coins-sur">set the stock and cryptocurrency markets on fire with his social media comeback in May. </a>
The trader has posted position updates on Reddit and <a href="https://www.benzinga.com/markets/equities/24/06/39231962/roaring-kitty-draws-600k-live-viewers-in-youtube-return-im-alive">even held a livestream during market hours </a>on his YouTube channel.
His sporadic posts continue to inject volatility into GameStop and Kitty-themed memecoins.  
Price Action: At the time of writing, GME was exchanging hands at $0.00661, up 10.84% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of GameStop closed 5.85% higher at $28.58 during Tuesday's regular trading hours.
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</ul>

$GME

Wall Street experienced another notable day with the bulls driving the market upward, fueled by expectations of the Federal Reserve&#8217;s rate cuts in September. The Dow Jones Industrial Average had its best session since late May, soaring by 1.85% to close at 40,954.48. Meanwhile, the S&amp;P 500 saw a slight increase, ending the day up nearly 0.6% at 5,667.20. The Nasdaq also climbed, rising 0.2% to finish at 18,509.34.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares closed the day with a 5.70% increase at $28.54, with an intraday high of $28.83 and a low of $27.37. The stock has been trending across various social sites as traders continue to discuss a <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">potential repeat</a> of the historic meme stock short squeeze of 2021. 
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Despite positive analyst coverage, Meta Platforms shares fell by 1.28% to close at $489.79. The stock hit a high of $503.95 and a low of $485.79 during the day. Wolfe Research <a href="https://www.benzinga.com/news/24/07/39803195/meta-platforms-stock-is-trading-lower-tuesday-whats-going-on">initiated coverage</a> on Meta Tuesday with an Outperform rating and a price target of $620. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens&#8217;</a>
Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
Taiwan Semiconductor stock closed the day up 0.44% at $186.04, with an intraday high of $189.59 and a low of $185.02. The company&#8217;s demand for AI chip production tools is driving ASML Holding&#8217;s <a href="https://www.benzinga.com/news/24/07/39793164/whats-going-on-with-taiwan-semiconductor-stock-tuesday">anticipated orders</a> for the second quarter. 
Bank Of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)
Bank of America shares rose by 5.35% to close at $44.13, with an intraday high of $44.4 and a low of $42.22. The bank reported fiscal 2024 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39799828/bank-of-americas-growth-boosted-by-strong-fees-and-operating-efficiency-goldman-sac">second-quarter net income</a> of $6.9 billion, beating estimates. 
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares increased by 1.55% to close at $256.56, with an intraday high of $258.62 and a low of $245.8. CEO Elon Musk confirmed that the robotaxi unveiling event has been delayed to <a href="https://www.benzinga.com/news/24/07/39785823/elon-musk-confirms-delay-in-tesla-robotaxi-unveil-due-to-important-design-change-but-stays-mum-on-ne">deploy some design changes</a> to the vehicle.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

GameStop, Meta Platforms, TSMC, Bank Of America, Tesla: Why These 5 Stocks Are On Investors' Radars Today

WIIM

BURL

MUSA

SNBR

ULTA

WINA

Shares of retail and consumer discretionary stocks are trading higher following a rise in June retail sales, indicating continued consumer spending.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$255.00</td>
<td>$60.5K</td>
<td>9.4K</td>
<td>56.5K</td>
</tr>
<tr>
<td>XPEV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$9.00</td>
<td>$26.0K</td>
<td>8.3K</td>
<td>3.3K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$205.00</td>
<td>$813.2K</td>
<td>24.9K</td>
<td>1.5K</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$8.00</td>
<td>$30.3K</td>
<td>6.2K</td>
<td>1.2K</td>
</tr>
<tr>
<td>W</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$55.00</td>
<td>$30.8K</td>
<td>3.4K</td>
<td>408</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$44.00</td>
<td>$25.7K</td>
<td>0</td>
<td>186</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$41.00</td>
<td>$55.2K</td>
<td>15.0K</td>
<td>150</td>
</tr>
<tr>
<td>RH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$340.00</td>
<td>$42.4K</td>
<td>481</td>
<td>79</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$367.50</td>
<td>$44.3K</td>
<td>0</td>
<td>74</td>
</tr>
<tr>
<td>WSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/16/24</td>
<td>$115.00</td>
<td>$157.0K</td>
<td>96</td>
<td>46</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 100 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $60.5K, with a price of $605.0 per contract. There were 9480 open contracts at this strike prior to today, and today 56502 contract(s) were bought and sold. 
• For XPEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), we notice a call option sweep that happens to be bearish, expiring in 3 day(s) on July 19, 2024. This event was a transfer of 1000 contract(s) at a $9.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $26.0 per contract. There were 8329 open contracts at this strike prior to today, and today 3357 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option trade that happens to be bullish, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 1749 contract(s) at a $205.00 strike. The total cost received by the writing party (or parties) was $813.2K, with a price of $465.0 per contract. There were 24916 open contracts at this strike prior to today, and today 1509 contract(s) were bought and sold. 
• For QS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), we notice a call option sweep that happens to be bullish, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 204 contract(s) at a $8.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $30.3K, with a price of $149.0 per contract. There were 6250 open contracts at this strike prior to today, and today 1215 contract(s) were bought and sold. 
• For W (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), we notice a put option sweep that happens to be bearish, expiring in 3 day(s) on July 19, 2024. This event was a transfer of 315 contract(s) at a $55.00 strike. This particular put needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $30.8K, with a price of $97.0 per contract. There were 3433 open contracts at this strike prior to today, and today 408 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a put option trade with neutral sentiment. It expires in 17 day(s) on August 2, 2024. Parties traded 15 contract(s) at a $44.00 strike. The total cost received by the writing party (or parties) was $25.7K, with a price of $1717.0 per contract. There were 0 open contracts at this strike prior to today, and today 186 contract(s) were bought and sold. 
• Regarding GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we observe a call option sweep with bullish sentiment. It expires in 66 day(s) on September 20, 2024. Parties traded 60 contract(s) at a $41.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $55.2K, with a price of $920.0 per contract. There were 15016 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• For RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>), we notice a call option trade that happens to be neutral, expiring in 185 day(s) on January 17, 2025. This event was a transfer of 15 contract(s) at a $340.00 strike. The total cost received by the writing party (or parties) was $42.4K, with a price of $2830.0 per contract. There were 481 open contracts at this strike prior to today, and today 79 contract(s) were bought and sold. 
• Regarding HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we observe a put option sweep with neutral sentiment. It expires in 17 day(s) on August 2, 2024. Parties traded 70 contract(s) at a $367.50 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $44.3K, with a price of $649.0 per contract. There were 0 open contracts at this strike prior to today, and today 74 contract(s) were bought and sold. 
• For WSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), we notice a call option sweep that happens to be neutral, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 34 contract(s) at a $115.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $157.0K, with a price of $4575.0 per contract. There were 96 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

XPEV

One of the original "meme stocks" Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) shares are climbing Tuesday on heavy trading volume. Here's a<a href="https://www.benzinga.com/news/24/07/39647722/whats-going-on-with-koss-stock"> look at what's going on.&nbsp;</a>
What To Know:
Koss shares exploded higher in early July as retail investors circulated a<a href="https://www.reddit.com/r/Superstonk/comments/1dtv3zj/the_gme_koss_connection_the_spark_to_ignite_the/"> social media post</a> speculating on a possible connection between GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) and Koss. The post attempted to extract a pattern from a series of emojis posted by Roaring Kitty, and some investors speculated that Koss could be the next stock Roaring Kitty will target based on the sequence of emojis.&nbsp;
Koss gave back a large portion of its gains from the beginning of July, however the stock remains up by more than 150% over the past month. Koss is moving higher on heavy volume Tuesday with more than triple the stock's average daily volume already traded in the session, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>
Read Next: <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">Solar Stocks Tumble Following Failed Assassination Of Trump: What&#8217;s Going On?</a>
Koss <a href="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/12035096">was granted</a> a U.S. patent for "personal acoustic systems and flexible earpiece mounts for the same" last week, though the stock is moving Tuesday despite a lack of company-specific news.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Koss shares are trading above the stock&#8217;s 50-day moving average of $5.25 and 11.91% of available shares are being sold short.&nbsp;
<h2 class="wp-block-heading">How To Buy KOSS Stock:</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Koss&#8217; case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
KOSS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Koss Corporation shares are up 18.7% at $10.35 at the time of publication Tuesday.
Read Also:
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<li><a href="https://www.benzinga.com/news/24/07/39777940/whats-going-on-with-upstart-stock">What&#8217;s Going On With Upstart Stock?</a></li>
</ul>
Image: Shutterstock

What's Going On With Koss Stock?

GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares are trading higher Tuesday, adding to gains of nearly 14% over the past week. Here&#8217;s a look at what <a href="https://www.benzinga.com/news/24/07/39717582/whats-going-on-with-gamestop-shares-wednesday">you need to know</a>.
What To Know: GameStop shares are trending across various social sites on Tuesday as traders continue to highlight high short interest in the name and discuss a potential repeat of the historic meme stock short squeeze of 2021. 
Meme stock trader Keith Gill, who is often credited with sparking the meme stock madness of 2021&nbsp;that saw GameStop and related names squeeze higher, made a return to social media recently following three years of silence.&nbsp;
Gill&#8217;s social media return appears to have sparked increased volatility in GameStop and other retail darlings. The trader has posted position updates on Reddit and even held a livestream during market hours on his YouTube channel. His latest post, however, has traders questioning his next move. 
Near the end of last month, Gill disclosed a 6.6% stake in pet retailer Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), which was founded by&nbsp;GameStop CEO&nbsp;Ryan Cohen. The SEC filing confirming his stake came just days after the meme stock trader&nbsp;<a href="https://x.com/TheRoaringKitty/status/1806371920495186041" target="_blank" rel="noreferrer noopener">posted</a>&nbsp;an image of a dog on X, which spurred speculation that he may be interested in Chewy.
See Also: <a href="https://www.benzinga.com/markets/bonds/24/07/39792320/june-retail-sales-stagnate-traders-fully-price-in-september-interest-rate-cut">June Retail Sales Stagnate: Traders Fully Price In September Interest Rate Cut</a>
Gill hasn't posted an actual position update on social media since he shared a screenshot on Reddit showing that he was holding 9.001 million shares of GameStop, up from about 5 million shares at the prior update. Some have speculated that Gill may have sold his GameStop stake following the company's lackluster&nbsp;<a href="https://www.benzinga.com/general/gaming/24/06/39362295/gamestop-shareholders-meeting-highlights-actions-speak-louder-than-words-says-ceo-ryan-cohen" target="_blank" rel="noreferrer noopener">annual shareholder meeting</a>. Others are trying to figure out what he could be planning to do next. 
There are still plenty of people betting that GameStop is overvalued. Approximately 12% of the float is currently sold short, according to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
GME Price Action: GameStop shares were up 2.70% at $27.73 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: <a href="https://www.flickr.com/photos/jjbers/">JJBers</a> from Flickr.

What's Going On With GameStop Stock?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$270.00</td>
<td>$26.5K</td>
<td>26.2K</td>
<td>113.8K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$192.50</td>
<td>$25.7K</td>
<td>5.5K</td>
<td>15.7K</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$80.00</td>
<td>$25.9K</td>
<td>30.0K</td>
<td>4.5K</td>
</tr>
<tr>
<td>CHWY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$27.00</td>
<td>$32.6K</td>
<td>3.8K</td>
<td>3.0K</td>
</tr>
<tr>
<td>JD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$52.0K</td>
<td>13.0K</td>
<td>1.3K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$25.00</td>
<td>$29.8K</td>
<td>7.7K</td>
<td>1.0K</td>
</tr>
<tr>
<td>CZR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$40.00</td>
<td>$49.9K</td>
<td>2.3K</td>
<td>831</td>
</tr>
<tr>
<td>MGM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$43.00</td>
<td>$191.1K</td>
<td>246</td>
<td>745</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$79.00</td>
<td>$60.6K</td>
<td>2.5K</td>
<td>601</td>
</tr>
<tr>
<td>BYD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$55.00</td>
<td>$92.8K</td>
<td>435</td>
<td>597</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option sweep with neutral sentiment. It expires in 4 day(s) on July 19, 2024. Parties traded 58 contract(s) at a $270.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $457.0 per contract. There were 26203 open contracts at this strike prior to today, and today 113840 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on July 19, 2024. This event was a transfer of 103 contract(s) at a $192.50 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $250.0 per contract. There were 5581 open contracts at this strike prior to today, and today 15787 contract(s) were bought and sold. 
• Regarding NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we observe a call option sweep with bearish sentiment. It expires in 32 day(s) on August 16, 2024. Parties traded 786 contract(s) at a $80.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $25.9K, with a price of $33.0 per contract. There were 30019 open contracts at this strike prior to today, and today 4575 contract(s) were bought and sold. 
• For CHWY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on July 19, 2024. This event was a transfer of 402 contract(s) at a $27.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $32.6K, with a price of $81.0 per contract. There were 3814 open contracts at this strike prior to today, and today 3065 contract(s) were bought and sold. 
• Regarding JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we observe a call option sweep with neutral sentiment. It expires in 186 day(s) on January 17, 2025. Parties traded 115 contract(s) at a $25.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $52.0K, with a price of $453.0 per contract. There were 13021 open contracts at this strike prior to today, and today 1369 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a call option trade with bullish sentiment. It expires in 11 day(s) on July 26, 2024. Parties traded 100 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $29.8K, with a price of $298.0 per contract. There were 7776 open contracts at this strike prior to today, and today 1040 contract(s) were bought and sold. 
• For CZR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), we notice a call option sweep that happens to be bearish, expiring in 186 day(s) on January 17, 2025. This event was a transfer of 99 contract(s) at a $40.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $49.9K, with a price of $505.0 per contract. There were 2355 open contracts at this strike prior to today, and today 831 contract(s) were bought and sold. 
• For MGM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), we notice a put option sweep that happens to be bearish, expiring in 158 day(s) on December 20, 2024. This event was a transfer of 970 contract(s) at a $43.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $191.1K, with a price of $197.0 per contract. There were 246 open contracts at this strike prior to today, and today 745 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a call option sweep that happens to be bullish, expiring in 11 day(s) on July 26, 2024. This event was a transfer of 399 contract(s) at a $79.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $60.6K, with a price of $152.0 per contract. There were 2546 open contracts at this strike prior to today, and today 601 contract(s) were bought and sold. 
• For BYD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), we notice a call option sweep that happens to be bearish, expiring in 32 day(s) on August 16, 2024. This event was a transfer of 221 contract(s) at a $55.00 strike. This particular call needed to be split into 39 different trades to become filled. The total cost received by the writing party (or parties) was $92.8K, with a price of $420.0 per contract. There were 435 open contracts at this strike prior to today, and today 597 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Truth Social parent Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) stock maintains its upward trajectory as President Joe Biden&#8217;s two significant gaffes within two hours intensified worries about his mental sharpness, potentially jeopardizing his campaign.
Biden mistakenly called Vice President Kamala Harris &#8220;Vice President Trump&#8221; during his solo press conference in Washington on Thursday.
This error occurred while addressing the opening question, leading to Trump mocking Biden, CNBC <a target="_blank" href="https://www.cnbc.com/2024/07/11/joe-biden-press-conference-updates.html" rel="noreferrer noopener">reports</a>.
Former President Donald Trump and his campaign posted multiple clips of Biden&#8217;s blunders on Truth Social.
The press conference aimed to show Biden&#8217;s ability to handle tough questions but failed to alleviate Democrats&#8217; concerns about his health, which have been growing since his poor debate performance against Trump on June 27.
Shortly after the conference, Rep. Jim Himes and Rep. Scott Peters called for Biden to withdraw from the 2024 race, citing concerns about his ability to win.
Throughout the event, Biden made several other errors, including calling his chief of staff &#8220;my commander in chief&#8221; and confusing Ukraine&#8217;s President Volodymyr Zelenskyy with &#8220;President Putin&#8221; during a NATO event.
Despite these blunders, Biden insisted he remains the best candidate to defeat Trump. He conceded he might consider exiting the race if advised he has no chance of winning.
Trump is <a target="_blank" href="https://www.benzinga.com/government/24/07/39663724/whats-going-on-with-trump-media-technology-group-stock-on-monday" rel="noreferrer noopener">a majority shareholder</a> of Trump Media &amp; Technology Group. Trump has not spared a single occasion to pitch himself as the most potential Presidential candidate, something that gained traction from his recent debate with Biden.
Trump Media &amp; Technology Group stock gained 129% in the last 12 months. Experts often compare Trump Media &amp; Technology Group to meme stocks such as GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
Price Action:&nbsp;DJT shares were trading higher by 2.28% to $30.54 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

What's Going On With Trump Media & Technology Stock On Friday?

Shares of GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) have been volatile and are moving higher on Wednesday. Here&#8217;s what yo<a href="https://www.benzinga.com/quote/GME/news">u need to know.</a>
What Happened: GameStop, traditionally known as a video game retailer, is making a significant push into the trading card market. The company announced a $25,000 bounty for the one-of-one black parallel Lionel Messi sticker from the 2024 Panini Copa America collection. The sticker must be graded PSA 6 or above to qualify for the bounty, which concludes at the end of 2024.
Why It&#8217;s Important: GameStop&#8217;s bounty is part of a broader strategy to diversify its offerings beyond video games and accessories. This move capitalizes on the popularity of soccer star Lionel Messi, who has recently joined Inter Miami in Major League Soccer. The bounty also serves as a marketing tool to highlight GameStop&#8217;s venture into graded sports cards and collectibles.
What Else: The stock has seen a session volume of 18.312 million, against an average 100-day volume of 50.213 million and has traded within a day range of $24.90 to $26.45. With a float of 352.175 million shares and a market cap of $10.485 billion, the share has seen some activity in the last few weeks.
GME Price Action: GameStop shares were up by 1.50% at $24.97 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10142147/GME-1024x525.png" alt="" class="wp-image-429377" style="width:528px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10142147/GME-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10142147/GME-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10142147/GME-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10142147/GME.png 1105w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39715707/massachusetts-lawmakers-consider-nuclear-option-to-fix-cannabis-control-commission-crisis">Massachusetts Lawmakers Consider &#8216;Nuclear Option&#8217; To Fix Cannabis Control Commission Crisis</a>
Image Via Shutterstock.

What's Going On With GameStop Shares Wednesday?

GameStop: Too Risky To Buy, Too Risky To Short

Catalyst watch: Earnings deluge, Farnborough Airshow, Paris Olympics, and Trump talks crypto

Wall Street Breakfast: The Week Ahead

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The astonishing GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) short squeeze in January 2021 was a watershed moment for meme investing. Although coordinated retail investors have bought into positions in a similar way to <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> in the past, 2021 underlined the strength of social media in driving the meme stocks to buy now.&nbsp;



2021 saw GameStop <a href="https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html">rally 1,800%</a> in a matter of days before dropping back down to earth, while later in the year, AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) grew almost 2,700% as investors turned their attention to the struggling cinema chain.&nbsp;



These rallies were driven by retail investors using social media to coordinate their purchases. Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) groups like r/WallStreetBets significantly grew in popularity, and meme-focused investor influencers like Keith Gill, better known as Roaring Kitty, championed GameStop as a nostalgia-driven option for investors.&nbsp;



Powered by government stimulus packages in the wake of the pandemic, retail investors had the liquidity to create eye-watering rallies for the likes of GME and AMC in 2021, but why is Q3 2024 a good opportunity to start contemplating which meme stocks to buy now?



Keith Gill made his return to social media in recent weeks, posting a series of cryptic memes on X and <a href="https://www.theguardian.com/business/article/2024/jun/07/roaring-kitty-livestream-keith-gill-gamestop">live-streaming</a> to hundreds of thousands of viewers on YouTube. The return of Roaring Kitty has brought fresh rallies for GameStop and a number of other meme stocks to buy now since his return, so let&rsquo;s take a look at some of the biggest options in Q3 2024:



<h2>Chewy (CHWY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/chewy-chwy-1600-300x169.jpg" alt="chewy website zoomed in on the logo"><div>Source: Postmodern Studio / Shutterstock.com</div></div>On the face of it, U.S. pet food retailer Chewy (NYSE:<a href="https://investorplace.com/stock-quotes/chwy-stock-quote/">CHWY</a>) doesn&rsquo;t have the characteristics of other meme stocks to buy. The likes of GameStop and AMC were nostalgia-driven, while other stocks are favored among retail investors for their operational quirks in niche industries. So, what makes Chewy such a strong meme stock option? Roaring Kitty does.



According to a recent regulatory filing, Gill has bought <a href="https://www.cbsnews.com/news/roaring-kitty-chewy-stock-meme-investor/">nine million shares in Chewy</a>, representing a value of $245 million.&nbsp;



Crucially, Chewy&rsquo;s founder, Ryan Cohen, is the CEO of GameStop and has likely played a deciding role in attracting Gill&rsquo;s investment.&nbsp;



With the backing of Roaring Kitty, Chewy gains one of social media&rsquo;s most famous influencers. In his typical form, Gill hinted at his interest in Chewy by <a href="https://x.com/TheRoaringKitty/status/1806371920495186041">posting a cartoon image of a dog</a> on his X account on June 27, 2024.&nbsp;



Chewy closed Q2 2024 69.3% up on the beginning of the quarter, and although the stock has struggled to keep up the momentum, we&rsquo;ve seen with the GameStop short squeeze in 2021 that Keith Gill has a habit of driving exponential growth for struggling stocks.&nbsp;



<h2>Reddit (RDDT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/rddt1600-300x169.png" alt="An iPhone Plus with a Reddit (RDDT) logo on the screen. Reddit IPO"><div>Source: oasisamuel / Shutterstock.com</div></div>Meme investors have historically bought into stocks they view favorably, and this is likely to drive more interest in the social media platform Reddit, which debuted on the New York Stock Exchange in March 2024.&nbsp;



Known as the platform on which the popular meme investor forum <a href="https://www.reddit.com/r/wallstreetbets/?rdt=51117">r/WallStreetBets</a> operates, Reddit has long been the leading choice for retail investors to keep their ears to the ground and identify fresh market opportunities.&nbsp;



With more than 16 million members, Reddit&rsquo;s WallStreetBets group is a leading hub for meme investor activity, and this could help RDDT stay close to meme stock outperformance in Q3 2024.&nbsp;



The stock&rsquo;s fundamentals can also help drive investor activity. RDDT rallied more than 25% between its market debut and the end of Q2 2024, and with a <a href="https://investor.redditinc.com/news-events/news-releases/news-details/2024/Reddit-Announces-First-Quarter-2024-Results/">37% increase to 82.7 million</a> in user traffic and a revenue increase of 48% to $243 million reported in its Q1 earnings, there will be plenty of optimism for further outperformance in Q3 2024.&nbsp;



Reddit&rsquo;s stock price received a recent boost following the announcement of a deal with ChatGPT owner OpenAI, which will see the generative AI model gain access to Reddit content, with the social network also gaining new AI features in the future.&nbsp;



<h2>GameStop (GME)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/gme1600-300x169.jpg" alt="Photo of the Gamestop (GME) logo On a Mobile Phone."><div>Source: Shutterstock / mundissima</div></div>No list of high-potential meme stocks would be complete without GameStop. Although Roaring Kitty has bought heavily into Chewy, the potential for GameStop to embark on exponential price rallies can&rsquo;t be ignored.&nbsp;



Between January 1, 2020, and the end of Q2 2024, GameStop&rsquo;s price on Wall Street has grown 1,579.59%, and recent rallies show that meme investors aren&rsquo;t willing to forget about the world&rsquo;s most famous meme stock.&nbsp;



With the expectation of U.S. <a href="https://www.reuters.com/markets/rates-bonds/feds-williams-suggests-rate-cut-could-be-warranted-coming-months-wsj-reports-2024-07-17/">Federal Reserve rate cuts</a> on the horizon, we&rsquo;re likely to see a rise in investor liquidity that could see higher volumes of interest flow back into popular meme stocks like GameStop.&nbsp;



The stock also has a figure beside Keith Gill that&rsquo;s helped to provide a boost to its value in recent weeks: CEO Ryan Cohen.&nbsp;



Cohen&rsquo;s outspoken support for U.S. Presidential Election candidate Donald Trump resonated with supporters enough to see GameStop&rsquo;s stock <a href="https://investorplace.com/2024/07/gamestop-gme-stock-pops-as-ryan-cohen-endorses-trump/">climb 11% as a result</a>. In a sentiment-driven market, it&rsquo;s these big personalities that can have a profound effect on the behavior of meme investors.&nbsp;



On the date of publication, Dmytro Spilka did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Dmytro is a finance and investing writer based in London. He is also the founder of Solvid, Pridicto and Coinprompter. His work has been published in Nasdaq, Kiplinger, FXStreet, Entrepreneur, VentureBeat and InvestmentWeek.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-meme-stocks-to-buy-now-q3-edition/">3 Meme Stocks to Buy Now: Q3 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Meme Stocks to Buy Now: Q3 Edition

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The stock market has featured many winners in 2024 that have rewarded patient investors. The S&amp;P 500 is up by 16% year-to-date while the Nasdaq Composite has gained 19% year-to-date. While big tech has carried these indices higher, many smaller companies have also performed well.&nbsp;



It&rsquo;s been hard to find stocks that have lost value this year, but they do exist. While some <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> look ready to rebound from their struggles to start the year, others are in free-fall and don&rsquo;t have much hope. Even if a falling star reclaims grace, it&rsquo;s better in most cases to put your money into an index fund instead of waiting for a laggard to snap out of its funk.



These three stocks do not look promising. Their losses are growing, and it doesn&rsquo;t look like these companies will flip the script anytime soon. Investors may want to steer clear from these stocks to sell.



<h2>GameStop (GME)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/gme1600-6-300x169.png" alt="The logo for GameStop Corp (GME) is displayed above a retail storefront entrance."><div>Source: Urban Images / Shutterstock.com</div></div>The GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) story is clear. Short squeeze opportunities present short-term buying opportunities for retail investors who get in early. Then, the stock inevitably crashes down to where it was before the trading frenzy began. Shares are up by 71% year-to-date and already have two massive spikes in the chart. Those spikes demonstrate that the stock price dropped just as quickly as it rose.



The underlying business does not warrant a $10 billion market cap or a price-to-earnings ratio of 305x. The company&rsquo;s revenue <a href="https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-discloses-first-quarter-2024-results">decreased by 29% year-over-year</a> in the first quarter, coming in at $882 million. The company&rsquo;s net loss came in at $32.3 million. A company with high net losses and declining revenue won&rsquo;t last long.&nbsp;



The original meme stock is due for a 50% pullback at the minimum. Speculators have driven up the price this year, but fundamentals prevail in the long run. It&rsquo;s only a matter of time when the meme frenzy turns into a rush for the exits.



<h2>Cisco Systems (CSCO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/cisco-csco-1600-300x169.jpg" alt="the cisco (CSCO) logo on a wall"><div>Source: Valeriya Zankovych / Shutterstock.com</div></div>Cisco Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/csco-stock-quote/">CSCO</a>) looks like it&rsquo;s going to be dead money for a few years. That&rsquo;s been the case since 2019, as shares are down by 18% over the past five years. The stock&rsquo;s 3.3% yield compensates a little, but it stings if you look at how index funds have performed during the same stretch.



Dividend growth has slowed in recent years, with the <a href="https://www.nasdaq.com/market-activity/stocks/csco/dividend-history">quarterly payout</a> only inching up from $0.39 per share to $0.40 per share this year. That&rsquo;s an uninspiring 2.6% year-over-year increase for a stock that has underperformed the stock market for several years.



Recent financial results don&rsquo;t offer any reason for encouragement. Revenue dropped by 13% year-over-year while net income tumbled by 41% year-over-year in <a href="https://s2.q4cdn.com/951347115/files/doc_earnings/2024/q3/earnings-result/Q3FY24-Press-Release.pdf">the third quarter of fiscal 2024</a>. Next quarter&rsquo;s guidance implies another big revenue drop for the company. Cisco has been the type of stock that only goes up if it reports bad results instead of horrendous results. It&rsquo;s best to avoid a stock that has disappointed its investors for several years.



<h2>Zoom (ZM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/zoom_zm_1600-300x169.jpg" alt="A woman sitting at a desk waves at a large number of people on the videoconferencing software Zoom (ZM)."><div>Source: Girts Ragelis / Shutterstock.com</div></div>Zoom (NASDAQ:<a href="https://investorplace.com/stock-quotes/zm-stock-quote/">ZM</a>) is having an <a href="https://fortune.com/2024/06/28/zoomthe-video-calls-covid-pandemic-ai-collaboration/">identity crisis</a> as booming pandemic gains become a distant memory. It was easy for Zoom to exceed investors&rsquo; expectations when people were forced to stay in their homes and had very few options for getting out of the house. Zoom is only known for its video conferencing software, and it doesn&rsquo;t have a moat in the industry.



Several tech giants have video conferencing technology that allow people to meet virtually. These tech conglomerates also don&rsquo;t charge for their software, making the barrier to entry quite low. While Zoom has free plans, it needs customers to use paid plans to stay in business.&nbsp;



First quarter results suggest that growth is at a standstill. The company only <a href="https://investors.zoom.us/news-releases/news-release-details/zoom-video-communications-reports-financial-results-first-1">increased its revenue by 3.2% year-over-year</a> in the first quarter of fiscal 2025. A growth stock can&rsquo;t deliver gains if it&rsquo;s producing low revenue growth. The company has had several quarters of low-single-digit revenue growth which make it look overvalued, despite the P/E of 22x. Investors haven&rsquo;t been convinced. They&rsquo;re heading for the exits based on Zoom&rsquo;s 15% year-to-date drop. Shares are down by roughly 90% from their all-time high.&nbsp;



On the date of publication, Marc Guberti did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;<a href="https://investorplace.com/">InvestorPlace.com</a><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News &amp; World Report, Benzinga, and Joy Wallet.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/warning-3-stocks-to-sell-before-losses-compound/">Warning! 3 Stocks to Sell Before Losses Compound.</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Warning! 3 Stocks to Sell Before Losses Compound.

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/meme-stocks/">Meme stocks</a>, fueled by social media hype, can soar or crash rapidly. While some see potential for explosive gains, others pose a high risk. So, how to navigate this wild ride? Hot companies with strong fundamentals and a clear growth path might be worth a closer look, even if they have meme stock buzz.&nbsp;



On the other hand, companies with shaky finances or no concrete plan for future success are generally best avoided, regardless of online chatter. Ultimately, in-depth research beyond the memes is key to separating potential diamonds from the rough.



Well, that&rsquo;s the general wisdom most rational investors should follow anyway. At the same time, influential traders like &lsquo;Roaring Kitty&rsquo; continue to prove that some speculation may pay handsomely. That contradiction leaves most investors wondering what to do: chase what may be free money or end up another sad story burned by FOMO? Let&rsquo;s look at some of the most popular meme stocks and identify which of the two scenarios is more likely to occur.&nbsp;



<h2>AMC Entertainment (AMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/amc1600-8-300x169.png" alt="Person holding cellphone with website of US company AMC Entertainment Holdings Inc. on screen in front of logo. AMC stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Investing in AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) stock is FOMO and nothing else. While that&rsquo;s arguably true for most meme stocks, it&rsquo;s especially true for AMC.&nbsp;



I say that because AMC&rsquo;s spikes in 2024 happen very quickly &mdash; over a few days at most &mdash; and then reverse course. Thus, once share prices rise, there&rsquo;s a rapid emergence of fear of missing out. That&rsquo;s a recipe for trouble and quick losses.&nbsp;



I also think investors should avoid AMC for the same general reasons most analysts advise against it: The company isn&rsquo;t growing and continues to <a href="https://investor.amctheatres.com/sec-filings/all-sec-filings/content/0001411579-24-000034/0001411579-24-000034.pdf">produce substantial losses</a>. So, it&rsquo;s fundamentally weak. Furthermore, streaming is here to stay and AMC cannot compete with changing movie consumption tastes. Younger generations haven&rsquo;t grown up with the same movie-going experiences that existed decades ago. Preferences are shifting toward at-home streaming. That shift ruins the economics of movie theater operators like AMC.&nbsp;&nbsp;



That truth &mdash; combined with the short duration of meme price spike opportunities in AMC &mdash; makes it one to avoid overall.&nbsp;



<h2>GameStop (GME)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/gme1600-4-300x169.png" alt="GameStop logo on the smartphone screen and blurred background. GME stock"><div>Source: mundissima / Shutterstock.com</div></div>GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) would be an easy stock to avoid if investing were simply an objective game. It isn&rsquo;t. Various subjective factors are always at play, and social media has fuelled those factors.&nbsp;



So, what I&rsquo;m trying to say here is simple. While GameStop&rsquo;s revenues are falling and <a href="https://stockanalysis.com/stocks/gme/forecast/">EPS continues to move deeper into the negative</a>, share prices are likely to rise soon. Blame politics and the polarization of everything through social media if you&rsquo;re looking for a scapegoat. But no matter how you feel about it, CEO Ryan Cohen&rsquo;s recent tweets endorsing Trump in 2024 have the potential to spike share share prices.&nbsp;



<a href="https://investorplace.com/2024/07/gamestop-gme-stock-pops-as-ryan-cohen-endorses-trump/" target="_blank">Given</a><a href="https://investorplace.com/2024/07/gamestop-gme-stock-pops-as-ryan-cohen-endorses-trump/"> his previous positions regarding CEOs</a> and political postings, are those tweets hypocritical? Absolutely.&nbsp;



Have we also seen how powerful such tweets can be in moving speculative investments higher in the recent past? Also, &lsquo;yes&rsquo;. That&rsquo;s the nature of our world today, and it&rsquo;s a powerful reason to believe that GameStop could pop again as it aligns &mdash; or is aligned by its CEO &mdash; with the right.&nbsp;



<h2>SoundHound AI (SOUN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/soun1600-3-300x169.png" alt="Person holding smartphone with webpage of US audio recognition company SoundHound Inc. (SOUN) on screen in front of logo. Focus on center of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>If my hunch is right, SoundHound AI (NASDAQ:<a href="https://investorplace.com/stock-quotes/soun-stock-quote/">SOUN</a>) will probably produce free money for investors in the coming weeks. It all relates to the relationship between Taiwan Semiconductor Manufacturing (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>), Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) and SoundHound AI.



The reason for leaving SoundHound AI will move higher relates to the second quarter performance of Taiwan Semiconductor Manufacturing. <a href="https://www.cnbc.com/2024/07/18/tsmc-q2-2024-earnings.html">TSMC beat </a>revenue and profit expectations upon releasing its Q2 earnings recently. That&rsquo;s a strong signal to the markets that the AI hardware boom remains in full swing. That&rsquo;s a strong signal that Nvidia will continue to be strong overall &ndash; and positive news in light of recent growing concern &ndash; as it is one of TSMC&rsquo;s most important customers.&nbsp;



Nvidia is an investor in SoundHound AI. We learned much more about that <a href="https://finance.yahoo.com/news/nvidia-finally-revealed-working-soundhound-081500035.html">relationship earlier this year</a> with the release of Nvidia&rsquo;s 13F filing. It indicated that voice recognition software has a huge potential growth market for found-use applications, from restaurant ordering to automotive. The point here is that investors will be looking at SoundHound again, as Nvidia should rebound on the positive news surrounding TSMC&rsquo;s Q2 earnings.



<h2>Rivian Automotive (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/rivn1600-10-300x169.png" alt="Rivian (RIVN) logo is seen at a Rivian service center in South San Francisco, California. Rivian Automotive, Inc. is an electric vehicle automaker."><div>Source: Tada Images / Shutterstock.com</div></div>Rivian Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) is a meme stock to avoid, in my opinion. There are simply too many issues with the company to consider it a glass-half-full scenario.&nbsp;



Yes, consumer demand for the R1SUVuv continues to strengthen; however, investors must look beyond that and consider the bigger picture. Rivian reiterated 2024 production guidance in its June delivery announcement. Investors should continue to expect substantial losses and profoundly negative per-share earnings from Rivian in 2024 with sub-9% growth. There is no positive surprise on the horizon right now.&nbsp;



Rivian&rsquo;s net losses grew in Q1, approaching $1.5 billion. Those are not encouraging figures for investors. Remember, Rivian IPO&rsquo;d at $130 back in 2021. Shares now sell for $17. Shares have declined more than 21% year-to-date, even with a recent turnaround. Rivian is too risky, and it&rsquo;s better to err on caution.&nbsp;



<h2>Beyond Meat (BYND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/bynd1600-1-1-300x169.png" alt="Editorial photo on Beyond Meat (BYND) theme. Illustrative photo for news about Beyond Meat - a producer of plant-based meat substitutes. BYND stock"><div>Source: photo_gonzo / Shutterstock.com</div></div>Beyond Meat (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/" target="_blank">&nbsp;BYND)&nbsp;</a>will certainly advance as the stock and company prospects worsen. The most recent news from the company is that it is in talks with bondholders about <a href="https://www.wsj.com/articles/beyond-meat-engages-bondholders-for-restructuring-talks-7de6b8ae">balance sheet restructuring</a>.&nbsp;



Bonds are debt the company owes to various investor groups, and the restructuring talks indicate that Beyond Meat is in deep trouble. With this latest move, Beyond Meat&rsquo;s management is clearly signaling increasing bankruptcy risk. The company&rsquo;s cash burn issues and deep net losses are well known. The restructuring talks will only heighten fears that Beyond Meat is incapable of repaying its debts.&nbsp;



The simple fact is that Beyond Meat products have not been met with the demand anticipated by the company and investors earlier. Revenues <a href="https://investors.beyondmeat.com/news-releases/news-release-details/beyond-meatr-reports-first-quarter-2024-financial-results">fell 18%</a> in the first quarter, exemplifying that truth. The news will create a short-selling opportunity, but there is no reason to expect share prices to rise reasonably soon.&nbsp;



<h2>ChargePoint Holdings (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/chpt1600-300x169.png" alt="Selective focus. Detail of ChargePoint commercial EV electric vehicle charging station on uncovered parking lot. CHPT stock"><div>Source: Michael Vi / Shutterstock.com</div></div>ChargePoint Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/">CHPT</a>) is at risk of bankruptcy, but if it can avoid that, I can see reasons to invest in the stock now.&nbsp;



Let me just substantiate my first point about bankruptcy risk. ChargePoint Holdings has an <a href="https://www.gurufocus.com/stock/CHPT/analysis/warning-signs">Altman Z-Score of -1.92</a>. That number indicates a possibility of bankruptcy in the next two years. That score isn&rsquo;t the only red flag for the company either. If ChargePoint Holdings can avoid bankruptcy, there are some real positives ahead.&nbsp;



Revenues are expected to grow by nearly 27% in 2025, and losses should narrow substantially during the same timeframe. That expectation is prompted by rate cut expectations and a resurgent EV sector next year.&nbsp;



So, investing in CHPT shares might be free money right now. Top-line growth is expected to be even stronger in 2026, and ChargePoint is expected to begin producing per-share earnings at the same time. Those who jump in now and hold on might be setting themselves up for a good amount of free money.&nbsp;



<h2>Ginkgo Bioworks (DNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/dna_ginkobioworks1600-300x169.png" alt="Person holding mobile phone with logo of American biotechnology company Ginkgo Bioworks Inc. on screen in front of web page. Focus on phone display. Unmodified photo. DNA stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Ginkgo Bioworks (NYSE:<a href="https://investorplace.com/stock-quotes/dna-stock-quote/">DNA</a>) sounds like a deeply interesting company and potential investment. The company continues to promise to enable customers to program cells as easily as we program computers. It is building a platform for biotech partners to realize that dream, but the ambitious goal is fraught with real-world constraints.&nbsp;



Synthetic biology is a complex field that tends to produce losses, as does the wider biotech sector. The company&rsquo;s problem is twofold. First, revenues that highly depend on sales of its synthetic biology platform continue to fall. Second, the company is nowhere near financial stability.&nbsp;



The company announced that it expects EBITDA breakeven by late 20rt. That&rsquo;s far away in most investors&rsquo; eyes, never mind that EBITDA doesn&rsquo;t consider taxes, depreciation and amortization.&nbsp; The company is reducing labor costs by 25% at least. How is it expected to produce meaningful advancements in its platform? The answer is they&rsquo;re unlike, but that&rsquo;s the nature of balancing share prices and jobs at publicly listed firms.&nbsp;&nbsp;



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
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The post <a href="https://investorplace.com/2024/07/7-meme-mania-stocks-which-are-fomo-and-which-are-free-money/">7 Meme Mania Stocks: Which Are FOMO and Which Are Free Money?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Meme Mania Stocks: Which Are FOMO and Which Are Free Money?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
On July 15, after two years in the top job, UK luxury brand&nbsp;Burberry Group&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/burby-stock-quote/" target="_blank">BURBY</a>) fired CEO Jonathan Akeroyd. While I doubt Akeroyd is a contender for the worst CEOs of all time list, his tenure there was much shorter than the average tenure of <a href="https://www.spencerstuart.com/research-and-insight/2023-ceo-transitions">8.9 years</a> for S&amp;P 500 chief executives.&nbsp;



I don&rsquo;t follow Burberry closely enough to know why Akeroyd was sacked. It didn&rsquo;t help that its revenues fell, and it <a href="https://moneyweek.com/investments/stocks-and-shares/burberry-ditches-ceo-and-dividend">lost money</a> in the first half of 2024.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



What qualifies someone for the worst CEOs list? Well, declining revenue and a lack of profits will do it. Bad acquisitions count. So, too, does a poor job of delivering long-term returns for shareholders. As for excessive compensation, it only seems to matter if the first three points are in play.&nbsp;



Yale Insights published a story in January that said Salesforce (NYSE:<a href="https://investorplace.com/stock-quotes/crm-stock-quote/">CRM</a>) CEO Marc Benioff was one of the <a href="https://insights.som.yale.edu/insights/triumph-and-disaster-the-best-and-worst-ceos-of-2023">best CEOs</a> in 2023, while Ryan Cohen, head of GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>), was one of the worst.&nbsp;&nbsp;



More than halfway through 2024, here are three companies that ought to ditch their CEOs.&nbsp;



<h2>Ventas (VTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/ventas-vtr-stock-1600-300x169.jpg" alt="Senior Woman Sitting In Chair And Talking With Nurse In Retirement Home"><div>Source: Monkey Business Images / Shutterstock.com</div></div>Ventas (NYSE:<a href="https://investorplace.com/stock-quotes/vtr-stock-quote/">VTR</a>) is a real estate investment trust (REIT) that owns healthcare-related real estate. Its CEO is Debra Cafaro. She has held the top job since <a href="https://s203.q4cdn.com/581756553/files/doc_news/2003/01/1/72539699-058f-4507-a0f5-a7693b4d484c.pdf">March 1999</a> and added the Chairman&rsquo;s role in January 2003.&nbsp;



Cafaro was hired to rescue the REIT, and she did. However, the REIT&rsquo;s stock performance wasn&rsquo;t good during her tenure. Over the past 25 years and four months, VTR stock has generated a cumulative return of 766%, a compound annual growth rate (CAGR) of 8.9%.&nbsp;



That&rsquo;s not a terrible performance, but it must be noted that all of these gains were achieved before May 2012, so it&rsquo;s gone sideways for the past 12 years.



I <a href="https://investorplace.com/2018/06/7-women-led-sp-500-companies-to-own-for-the-long-haul/">recommended Ventas stock</a> in June 2018. As I noted, she increased the REIT&rsquo;s market capitalization from $200 million in 1999 to $25 billion in June 2018, a CAGR of 27%.



At 66, it&rsquo;s time to find someone younger to run the business. She could remain Chairman while somebody else works on boosting its share price.&nbsp;&nbsp;&nbsp;



<h2>Nike (NKE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/nke-stock-3-300x169.jpg" alt="Nike (NKE) store in a shopping mall in Penang, Malaysia. robinhood stocks"><div>Source: TY Lim / Shutterstock.com</div></div>Nike (NYSE:<a href="https://investorplace.com/stock-quotes/nke-stock-quote/">NKE</a>) stock has lost 33% of its value in 2024. CEO John Donahoe, the athletic footwear giant hired in January 2020, is struggling to keep the company growing.&nbsp;



At the end of June, it reported <a href="https://www.cnbc.com/2024/06/28/nike-ceo-john-donahoe-under-fire-from-wall-street.html">Q4 2024</a> results that included sales guidance for 2025, saying they will be down 4-6% in 2025. Analysts have abandoned it in droves since. Today, it&rsquo;s a <a href="https://www.barchart.com/stocks/quotes/NKE/analyst-ratings">Moderate Buy</a> (15 buy ratings), down from Strong Buy (21 buy ratings) a month ago.&nbsp;&nbsp;




&ldquo;Management credibility is severely challenged and potential for C-level regime change adds further uncertainty,&rdquo; CNBC reported Stifel analyst Jim Duffy&rsquo;s comments after the release of its poor earnings.&nbsp;&nbsp;




Except for the March 2020 correction, NKE stock hasn&rsquo;t traded lower in Donahoe&rsquo;s 55-month tenure. Considering he is the 33rd highest-paid S&amp;P 500 in 2023 at $33.8 million, that&rsquo;s not a flattering juxtaposition.&nbsp;



At 64, it&rsquo;s time to give someone else a try.&nbsp;



<h2>GameStop (GME)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/gme1600-4-300x169.png" alt="GameStop logo on the smartphone screen and blurred background. GME stock"><div>Source: mundissima / Shutterstock.com</div></div>GameStop bulls will consider my words heresy, especially since its shares are up 44% in 2024. However, I don&rsquo;t think Ryan Cohen is <a href="https://investorplace.com/2024/07/gamestop-vs-chewy-the-surprising-winner-in-this-battle-of-meme-stocks/">CEO material</a> for a video game retailer badly needing a makeover.&nbsp;



To make matters worse, he&rsquo;s been greenlit to buy other stocks with the company&rsquo;s $4 billion cash hoard. Naturally, the board&rsquo;s going to let him stick around to see some of his bets play out.&nbsp;



Cohen first became involved in GameStop in August 2020 and became its CEO in <a href="https://finance.yahoo.com/news/why-ryan-cohen-short-gamestop-125404157.html#:~:text=Investors%20have%20trusted%20Cohen%20to,business%20or%20its%20business%20strategy.">September 2024</a>. Since then, the co-founder of Chewy (NYSE:<a href="https://investorplace.com/stock-quotes/chwy-stock-quote/">CHWY</a>) has invested in GME stock, which has increased by nearly 2,000%.&nbsp;



Why ditch someone responsible for this move?&nbsp;



If the board doesn&rsquo;t hire someone who knows how to turn its core business around, in five years, there will be nothing but stocks left as assets. With an enterprise value of $10.4 billion, 318x its EBITDA, it is valued like a tech stock rather than a down-on-its-luck video game retailer.&nbsp;&nbsp;&nbsp;&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/time-to-go-3-companies-who-should-ditch-their-ceos-immediately/">Time to Go: 3 Companies Who Should Ditch Their CEOs Immediately</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Time to Go: 3 Companies Who Should Ditch Their CEOs Immediately

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Can you trust the people giving you advice on social media? That&rsquo;s a question everyone should take the time to ask themselves.



The rise of influencer marketing has created a convenient avenue for companies to push questionable or even dangerous products into the American mainstream. Platforms such as Instagram and TikTok have enabled average people to reach influencer status and companies have seized the opportunity to expose new markets to their offerings &mdash; even if they aren&rsquo;t safe or advisable. For example, social media influencers have promoted tobacco products to non-smokers and dangerous tanning products to young people with very little regulation. Now, this dangerous trend has infected financial markets as well.&nbsp;



This is evident in the recent resurgence of Keith Gill (aka Roaring Kitty), the social media influencer credited with launching the GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) short squeeze.&nbsp;Gill retreated from the public eye after the 2021 GME stock short squeeze momentum died down, by which point, Business Insider <a href="https://www.businessinsider.com/where-is-keith-gill-now-dumb-money-movie-gamestop-2023-9">reports</a>, his position in the video game retailer had reached a value of $30 million. For years after that, he remained quiet on YouTube and Reddit, platforms on which he had amassed a significant following.&nbsp;



But on May 12, 2024, with no warning, Gill resurfaced on X (formerly Twitter) by sharing an <a href="https://x.com/TheRoaringKitty/status/1789807772542067105?lang=en">image of a man playing video games</a>. Gill offered no context, but he didn&rsquo;t need to. <a href="https://investorplace.com/stock-types/meme-stocks/">Meme stocks</a> such as GameStop and AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) surged almost instantly.&nbsp;



However, meme stock rallies often fizzle out quickly, and this time proved to be no exception. Gill&rsquo;s initial post proved effective at sending GME stock up more than 170% while AMC and fellow meme stock Koss (NASDAQ:<a href="https://investorplace.com/stock-quotes/koss-stock-quote/">KOSS</a>) enjoyed similar momentum. But less than a week later, the momentum subsided and shares fell significantly (although they remained elevated year-to-date).



As shares battled high volatility, regulators <a href="https://www.reuters.com/markets/us/massachusetts-regulator-probes-roaring-kittys-gamestop-trades-2024-06-04/">began to eye</a> Gill&rsquo;s trading activity as suspicious. CoinGape reports that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has expressed specifically that Gill&rsquo;s trades could <a href="https://coingape.com/why-sec-is-unlikely-to-probe-roaring-kitty-as-he-exploits-loophole/">potentially be considered</a> market manipulation.&nbsp;



After the dust settled from the Roaring Kitty rally of May 2024, two things were abundantly clear: 1) Gill is one of the investing world&rsquo;s most powerful influencers and 2) if his followers aren&rsquo;t careful, his influence could cost them a lot of money.



<h2>The Rise of Dangerous Influencer Marketing&nbsp;</h2>



Keith Gill isn&rsquo;t the first person that comes to mind when you hear the term &ldquo;social media influencer&rdquo; and the combo of social media and the stock market is certainly a newer phenomena. But this is an evolving world. As social media platforms have exploded in popularity throughout the past decade, so has influencer marketing. People have found ways to build significant followings &mdash; even if sometimes that means posting content that goes viral unexpectedly, just as Gill did when he first began vlogging about his initial GME investment. Companies have replaced their television infomercials &mdash; long a staple of advertising &mdash; with social media partners who can reach millions with one post.&nbsp;



Integral to the impact of influencers is that they are not traditional celebrities. According to <a href="https://www.agilitypr.com/pr-news/public-relations/a-brief-history-of-influencer-marketing-and-2-trends-that-define-its-future/">recent studies</a>, &ldquo;92 percent of consumers prefer recommendations from people they know over traditional advertisements.&rdquo;&nbsp;Another 2024 study revealed that <a href="https://www.charleagency.com/articles/influencer-marketing-statistics/#:~:text=Over%2060%25%20of%20consumers%20trust,%241%20spent%20on%20influencer%20marketing.">more than 60%</a> of consumers trust influencer recommendations enough to let them impact their purchasing decisions.&nbsp;



However, the many people making purchases based on influencer content might be better served to look into what they are buying. In 2021, tobacco giant British American Tobacco (NYSE:<a href="https://investorplace.com/stock-quotes/bti-stock-quote/">BTI</a>) <a href="https://www.theguardian.com/business/2021/feb/20/tobacco-giant-bets-1bn-on-social-media-influencers-to-boost-lung-friendlier-sales">began partnering</a> with social media influencers to promote Velo, a nicotine product known for its addictive tendencies. In 2022, BBC News also found that many U.K. influencers had been <a href="https://www.bbc.com/news/health-60348334">promoting</a> tanning products that their country had banned due to <a href="https://www.onegreenplanet.org/lifestyle/watch-out-for-social-media-influencers-promoting-dangerous-tanning-products/">links to cancer</a>. Other influencers have been <a href="https://www.ftc.gov/news-events/news/press-releases/2023/11/ftc-warns-two-trade-associations-dozen-influencers-about-social-media-posts-promoting-consumption">accused</a> by the Federal Trade Commission&nbsp;of promoting the safety of artificial sweeteners such as aspartame without proper disclosures.&nbsp;



The trend of everyday people gaining profound influence over such large audiences likely helped pave the way for Gill. His down-to-earth persona and playful cat t-shirts were a stark contrast to the shiny suits and vests that have become the uniforms of Wall Street. And this image likely helped him resonate with people who saw Wall Street as the enemy, especially as Gill&rsquo;s investing mentality offered a way to strike back at the institutions of high finance.&nbsp;



How deeply did he resonate with investors? The subreddit forum r/WallStreetBets, where Gill first gained notoriety in 2020, had <a href="https://marketrebellion.com/news/trading-insights/the-degenerate-history-of-wall-street-bets/">reached 10 million</a> registered subscribers by May 2021, by which point the squeeze had mostly concluded. According to <a href="https://subredditstats.com/r/wallstreetbets">recent statistics</a>, that number is now closer to 15 million.&nbsp;



<h2>The Damage Done</h2>



Gill likely didn&rsquo;t start out with the goal of inspiring an entire generation of traders. He claims he first purchased GME call options in June 2019 and increased his position through 2020 because he saw GME stock as being undervalued. As he documented his journey through Reddit and YouTube, many amateur traders started buying shares and options themselves in what they saw as a quest to harm the Wall Street short sellers who were betting against the stock.&nbsp;



Intentionally or not, Roaring Kitty was peddling a dangerous product, however: Meme stocks. Amateur traders were watching a seemingly regular person make what looked like easy money while harming the financial institutions betting against it. It&rsquo;s easy to become enamored with a David and Goliath story, especially when it offers you a way to make some money yourself. The GME short squeeze was no exception.



In May 2024, Roaring Kitty&rsquo;s return to social media ignited another meme stock rally. The day after Gill&rsquo;s return post began trending, GME stock <a href="https://www.theguardian.com/business/article/2024/may/13/gamestop-shares-roaring-kitty">skyrocketed 110%</a> in just a few hours while AMC rose 78%. Given how poorly both companies had performed during the year&rsquo;s first quarter, no one could ignore the fact that it had surged entirely on momentum generated by the single, cryptic X post.&nbsp;



Regardless of whether or not he meant to create such a movement, Gill is tied to the damage done in his wake. Most recently, that looks like the <a href="https://money.com/meme-stocks-gamestop-down-billions/#:~:text=In%20fact%2C%20the%20%2413.1%20billion,by%20stockholders%20%E2%80%94%20of%20%246.6%20billion">$13.1 billion in losses</a> reported by investors after GME stock came crashing down once the May rally had subsided. To illustrate further, that figure is &ldquo;nearly double GameStop&rsquo;s entire market capitalization.&rdquo;



This illustrates the easy money myth of meme stock investing. Easy money is only easy if you take the profits you&rsquo;ve made and walk away while you can. Many of those investors&rsquo; refusal to cash out when they had the opportunity to take profits proved extremely costly. The legions who were following Gill saw their GameStop investments as a means of leveling the playing field against Wall Street. &ldquo;If he&rsquo;s still in, I&rsquo;m not leaving,&rdquo;<a href="https://www.reddit.com/r/wallstreetbets/comments/msevli/if_hes_still_in_im_not_fucking_leaving/"> they cheered</a> in 2021.&nbsp;



This is not unlike what happened three years ago. Many Reddit threads feature stories from GameStop investors who <a href="https://www.reddit.com/r/TrueOffMyChest/comments/ld6jna/i_made_200k_from_gamestop_then_lost_it_all_and/">took significant losses</a> when they opted against selling. While this may not have been Gill&rsquo;s fault directly, he was well aware that these people were following his example. He rose to fame by documenting his bullish thesis on GME stock. But when he didn&rsquo;t highlight a clear exit strategy, some investors were left behind in the fantasy of harming Wall Street&rsquo;s short sellers. As GME stock tumbled after the 2021 short squeeze, The Washington Post reported that many traders <a href="https://www.washingtonpost.com/technology/2021/02/02/gamestop-stock-plunge-losers/">lost thousands of dollars</a> in as little as one trading day. The outlet recounted the woes of one college-aged r/WallStreetBets user:




&ldquo;Had he sold last week, he could have pocketed a typical American&rsquo;s annual salary. But as the stock has crumbled, he has turned to the forum for reassurance, posting a screenshot from his online-banking app showing the day&rsquo;s losses, totaling about $9,000.&rdquo;




The impact of the GameStop squeeze didn&rsquo;t end there. One anonymous trader recounted that they <a href="https://www.vice.com/en/article/bvnn3a/i-lost-dollar400000-almost-everything-i-had-on-a-single-robinhood-bet">lost almost $400,000</a> on an ill-fated trade buying Alibaba (NYSE:<a href="https://investorplace.com/stock-quotes/baba-stock-quote/">BABA</a>) call options. &ldquo;The big tipping point was GameStop. It was just ridiculous, and I got greedy and had FOMO,&rdquo; the individual wrote. In this, we see exactly why Gill should be considered akin to an influencer marketer. He enjoyed extremely <a href="https://www.marketwatch.com/story/reddit-trading-guru-keith-gill-looks-to-have-40-million-portfolio-after-his-gamestop-bet-11617301895">healthy profits</a> after cashing out of his original GameStop bet. In 2021, he shared a screenshot of his GameStop holdings, revealing &ldquo;$19 million in equity and $8.9 million in options&rdquo; as well as $11.9 million in cash. But, as noted, many of his followers took steep losses. Like the influencers who pushed harmful smoking or tanning products, Gill benefitted from limited oversight on his chosen platforms. He also catered to a vast audience with limited knowledge of the relevant industry &mdash; which was, in this case, investing. As I recently reported, many retail investors have <a href="https://investorplace.com/2024/06/does-i-like-the-stock-mean-i-should-buy-it-not-necessarily/#:~:text=As%20it%20turns%20out%2C%20buying,to%20make%20prudent%20financial%20decisions.">admitted to making bets</a> on meme stocks without truly understanding the company&rsquo;s fundamentals or growth prospects. Actual financial experts have made it clear that that strategy is highly risky and inadvisable.



Even if he didn&rsquo;t start out with the goal of igniting a movement among retail investors, the impact of Gill&rsquo;s actions cannot be overstated. He had been working in the financial industry for years, <a href="https://www.reuters.com/business/finance/massachusetts-fines-massmutual-475-mln-failing-supervise-roaring-kitty-other-2021-09-16/">holding a role</a> at MassMutual that centered around financial education. He even once held the designation of financial broker, although he <a href="https://www.reuters.com/article/world/roaring-kitty-no-longer-has-financial-broker-license-filing-idUSKCN2AT3O8/">no longer held</a> this license as of March 2021. As someone with an actual understanding of financial analysis market metrics, he made a fortune betting on GameStop. At one point, his position in the stock <a href="https://www.reuters.com/business/finance/who-is-keith-gill-online-influencer-sending-gamestop-shares-soaring-again-2024-06-07/#:~:text=But%20after%20drawing%20congressional%20and,X%2C%20and%20Reddit%20lay%20dormant.">reached a value</a> of $48 million. In June 2024, the rally that bore his name <a href="https://investorplace.com/2024/06/how-much-did-keith-gill-make-from-gamestop-gme-stock-this-weeks-staggering-figures/">almost took him</a> to billionaire status. But after achieving undeniable success, Gill stepped away and went silent as his admiring retail investors continued to make poor trading decisions &mdash; often quoting his <a href="https://investorplace.com/2024/06/does-i-like-the-stock-mean-i-should-buy-it-not-necessarily/">now iconic phrase</a>, &ldquo;I like the stock,&rdquo; to justify their reckless meme stock trades. This mantra remains a battle cry among retail investors to this day.&nbsp;



<h2>What Comes Next?</h2>



Gill started his journey as a modern day folk hero, helping a group of regular people mount a rebellion against a much larger foe. But when we step back and take an in-depth look at his entire trajectory, it&rsquo;s clear that like other market influencers, Gill has proven his type of power cannot go unchecked. Regulatory action is necessary to ensure that retail investors are more protected from misinformation &mdash; either predatory or unintentional &mdash; that <a href="https://apnews.com/article/investment-scams-crypto-fraud-social-media-f9e053a6c555c25c90e5f7330607d90c">continues to trend</a> on social media



This could come in the form of more regulatory crackdowns regarding who can post financial content to social media. If someone&rsquo;s number of followers reflects a high degree of influence over others, for example, they should face more scrutiny.&nbsp;



Additionally, social media platforms have a responsibility to police the investing content that is posted to them. Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) CEO Steve Huffman <a href="https://www.cnbc.com/2021/02/18/reddit-ceo-steve-huffman-defends-platforms-role-in-gamestop-surge.html">credits his own user base</a> with ensuring that the investing advice on the platform is valuable, saying it &ldquo;has to be accepted by many thousands of people before getting [high levels of] visibility.&rdquo; But that doesn&rsquo;t mean the advice is good. That&rsquo;s where the need for further oversight from these platforms comes in. When I spoke to personal finance and legal expert Erika Kullberg about spotting a credible financial market influencer, she <a href="https://investorplace.com/2023/12/social-media-star-erika-kullberg-shares-how-to-avoid-tiktok-scams-and-get-rich-the-right-way/">highlighted</a> the importance of avoiding making investments simply based on social media hearsay and groupthink mentality &mdash; exactly the trends that have led to ill-fated meme stock plays. Gill&rsquo;s resurgence has shown that it&rsquo;s time for regulators to focus more on weeding out the dangerous content that continues to trend across social media.&nbsp;



As I&rsquo;ve written before, it&rsquo;s unquestionably important for investors to conduct proper research and analysis before betting on a stock. That often means listening to experts. But identifying credible financial advice and smart insights can be difficult in today&rsquo;s unending flood of digital information. Scrutinizing influencers &mdash; and curbing the influence of snake oil salesmen &mdash; is necessary to protect investors from questionable-at-best advice.&nbsp;



On the date of publication, Samuel O&rsquo;Brient&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Samuel O&rsquo;Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O&rsquo;Brient writes a weekly column on recent political news that investors should be following.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/2024/07/toxic-influencer-marketing-how-roaring-kitty-brought-social-media-to-the-stock-market/">Toxic Influencer Marketing: How Roaring Kitty Brought Social Media to the Stock Market</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Toxic Influencer Marketing: How Roaring Kitty Brought Social Media to the Stock Market

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Grapevine, TX-based GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>)&nbsp;is a global operator of video game retail stores, with an online presence as well. The company focuses on the U.S. market, but has presence in Canada, Australia and Europe under other banners, selling a range of gaming products as well as other collectibles and technology at its locations.



That said, it&rsquo;s become increasingly clear that meeting consumers where they are is the most important. With gamers increasingly buying their games and accessories online, it&rsquo;s unclear what unique competitive advantage GameStop has long-term. This is the key thesis behind why the stock has declined of late. 



That said, let&rsquo;s dive into a few more reasons why GameStop appears to have more room to decline, and why this meme stock is one worth avoiding. 



<h2>Disappointing Financials</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/gme1600-6-300x169.png" alt="The logo for GameStop Corp (GME) is displayed above a retail storefront entrance."><div>Source: Urban Images / Shutterstock.com</div></div>Despite seeing incredible recent surges tied to hype around Keith Gill&rsquo;s return to social media and expectations of another short squeeze, these recent pops have been short-lived. In fact, any sort of speculative buying frenzy has seemed to die down quicker than the one before it, with GME stock losing steam much quicker this time around. 



This week, the stock is down considerably as investors are clearly taking a more skeptical view of the company&rsquo;s fundamentals. GameStop&rsquo;s<a href="https://news.gamestop.com/news-releases/news-release-details/gamestop-discloses-first-quarter-2024-results#:~:text=FIRST%20QUARTER%20OVERVIEW&amp;text=Net%20loss%20was%20%2432.3%20million,the%20close%20of%20the%20quarter."> Q1 2024 sales</a> declined to $882 million, driving a $32.3 million loss. According to analysts, GME is a sell, with price targets constantly downgraded due to lack of turnaround strategies.&nbsp;



GameStop&rsquo; core business of physical game sales faces severe challenges from the digital gaming shift. Revenue has been falling, and cost-cutting offers limited relief. Without a successful business model pivot, GameStop&rsquo;s long-term outlook remains bleak despite occasional meme stock-driven surges.



<h2>Highest Price In Over a Month</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/gme1600-7-300x169.png" alt="In this photo illustration the stock trading graph of GameStop seen on a smartphone screen. GME stock"><div>Source: rafapress / Shutterstock.com</div></div>On July 16, GME&nbsp;stock reached a one-month high above $27 per share. Despite Roaring Kitty&rsquo;s recent low profile and lack of commentary on the company, the stock rose 5% in a month and 2% that day, fueled by ongoing meme stock interest.



Of course, since this most recent pop, the stock has retreated. Currently, GME stock trades hands around $24 per share, with more downside likely ahead. 



GameStop gained fame in 2021 when amateur traders drove its stock price higher, causing Wall Street turmoil. The stock quieted down but surged in May after Keith Gill (Roaring Kitty) tweeted a meme and again in June following his first livestream and share purchase in three years.



Roaring Kitty&rsquo;s silence led to a sharp drop in GME, though it gradually rebounded last week. Investors remain interested in risky assets, especially after the weekend&rsquo;s political turmoil. However, with strong anticipation building around Kamala Harris, it appears a number of top Trump-related <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> have underperformed of late. 



<h2>GME Stock Still Looks Like a Loser</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/01/gme-1600-300x169.jpg" alt="A Gamestop (GME) video game store in the Herald Square shopping district in New York"><div>Source: rblfmr / Shutterstock.com</div></div>GameStop&rsquo;s underlying business remains troubled with Q4 sales dropping 28% to $882 million and net losses matching forecasts. CEO Ryan Cohen has capitalized on the situation, raising $933 million from stock sales, boosting GameStop&rsquo;s cash reserves to nearly $2 billion. While this prevents immediate bankruptcy, it also dilutes shareholders in a big way. With over 306 million shares outstanding and authorization for up to 1 billion common shares, further dilution is possible.



GameStop faces challenges as digital gaming reduces the need for physical game retailers. With a valuation of $11 billion, its market is shrinking. While niche demand exists, GameStop is better suited as a trading stock than a long-term investment. Thus, this is a stock to avoid right now, in my view. 



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/gme-red-alert-sell-gamestop-stock-now-before-its-too-late/">GME Red Alert: Sell GameStop Stock Now Before It&#8217;s Too Late</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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