In a recent tweet, Dave Portnoy expressed his confidence in holding onto GameStop Corp. GME stock.
What Happened: Portnoy, known for owning and founding Barstool Sports, took to X on Thursday to share his bullish stance on GameStop. He posted, “I’m holding $gme like a god d**n genius. #ddtg.”
Portnoy’s tweet comes amid a surge in GameStop’s stock price, which has been highly volatile following the return of Keith Gill, also known as Roaring Kitty, on social media. Gill’s announcement of a YouTube livestream has driven GameStop shares even higher.
Portnoy has hosted an ’emergency early session’ to discuss his position and the implications of Gill’s reemergence on his investment.
Why It Matters: Portnoy’s tweet reflects his unwavering confidence in GameStop, a stock that has been the center of attention due to its volatility and the return of Roaring Kitty. This surge in GameStop’s stock price follows Gill’s recent social media activity, which has also impacted the stock of AMC Entertainment Holdings Inc. AMC.
Portnoy has been vocal about his investments in meme stocks, including GameStop and AMC, as the stocks rallied in May 2024. He has been actively sharing his thoughts on these stocks and the impact of Roaring Kitty’s return to social media.
Despite the volatility, short seller Andrew Left has maintained his short position on GameStop, even as news of Roaring Kitty’s upcoming YouTube livestream caused the stock to soar.
Price Action: On Thursday, GameStop shares soared 31.62% in the after-hours session to $61.27 after closing nearly 47.5% higher at $46.55 in regular trading, according to data from Benzinga Pro.
Read Next: AMC Stock Rises As Annual Shareholder Meeting Results Roll In: What’s Going On?
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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