GameStop tumbles for second day as meme-stock rally fades

) tumbled for a second consecutive session on Monday, extending deep losses after stock influencer Keith Gill's return to YouTube last week failed to spark fresh investor enthusiasm for the struggling shopping mall retailer.

On Monday, GameStop shares sank about 15% to $24.06, following a dive of nearly 40% on Friday after the company reported a drop in quarterly sales. Gill acquired 5 million shares of GameStop at an average price of $21.274, according to details he shared on social media. In addition, he bought 120,000 GameStop June 21 call options at a strike price of $20 at $5.6754 per contract. Reuters was unable to verify the size and value of his holdings.

The videogame retailer has been losing money for years as customers shift to online purchases, and its latest quarter was no different.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

From Redditor to Billionaire: GameStop stock rally pushes Keith Gill to 10-figure statusKeith Gill might be a billionaire on Friday. After surging 47.5% on Thursday, GameStop (GME) stock rose another 31.6% afterhours to end at $61.27 per share.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gaming tokens set for rally after Roaring Kitty ignites a surge in GameStop stockGaming tokens are gearing up for a rally after posting gains on Monday as Roaring Kitty revealed his hefty bets on GameStop.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GameStop Stock News: GME extends rally as NASDAQ hits 17,000 for first timeOn Tuesday, GameStop (GME) stock rallied more than 25% on news that the videogame retailer and meme stock had finished selling nearly $1 billion worth of new shares in an at-the-market secondary sale.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GameStop, AMC rise in aftermarket trade as meme stock rally pushes higherGameStop, AMC rise in aftermarket trade as meme stock rally pushes higher
Source: Investingcom - 🏆 450. / 53 Read more »

GameStop, AMC surge 40% in premarket trade as meme stock rally pushes higherGameStop, AMC surge 40% in premarket trade as meme stock rally pushes higher
Source: Investingcom - 🏆 450. / 53 Read more »

GameStop, AMC surge in early trade as meme stock rally pushes higherGameStop, AMC surge in early trade as meme stock rally pushes higher
Source: Investingcom - 🏆 450. / 53 Read more »