GameStop’s shares surged over 70% in premarket trading on Monday, following a post by retail investor Keith Gill. The new post revealed that Gill had a significant holding of 5 million shares and $65.7 million worth of GameStop call options expiring on June 21 at a strike price of $20, indicating a bullish sentiment. Additionally, the post included a reverse green card from the game Uno, which has become a popular symbol in the meme stock world, signaling potential for GameStop to turn around.
This news came after an image shared by Gill on social media in May caused GameStop’s shares to surge over 134% in two days. Kusin’s advice and Gill’s active involvement may put GameStop on the path to recovery and growth, attracting both retail and institutional investors alike. These developments suggest that there is renewed interest in reshaping the company and bringing it back to its former glory.
