One group is commemorating: r/WallStreetBets. The community of retail financiers is happy at the outcomes and hailing the jump as proof that the GME rollercoaster ride isnt over.
Ahhh, I was questioning why $GME was up 75% and then I understood its because their crucial holder (the Chewy founder) tweeted this image of an ice cream cone.Makes a lot more sense now. pic.twitter.com/E1Qw5hhjdX— Nate Anderson (@ClarityToast) February 24, 2021
A variety of events today may be adding to the increase. For one, GME supporter Keith Gill, understood online as Roaring Kitty or by his more profane handle u/DeepFuckingValue, affirmed recently in a House Financial Services Committee hearing on the GameStop rally, in which he pleaded his case as a daily financier who just liked the stock. Late recently, Gill doubled his holdings in GME to 100,000 shares, worth at the time about $4 million, reports The Wall Street Journal.
Gills determination to double down on his GameStop enthusiasm might be one factor discussing the stock increase today, but its definitely not the only one. GameStops former chief financial officer Jim Bell announced his resignation the other day, an unexpected departure Insider now reports may been less than friendly after the companys board of directors “despaired” in the executive. That could be fueling financier interest.
And finally, and a lot of inexplicably, Chewy founder Ryan Cohen– the GameStop board member whose interest in the company helped facilitate its skyrocketing stock rate– tweeted a photo of a McDonalds ice cream cone with a frog emoji for a caption. What could this potentially have to do with a new soaring GME stock rate?
For one, GME advocate Keith Gill, understood online as Roaring Kitty or by his more profane manage u/DeepFuckingValue, testified last week in a House Financial Services Committee hearing on the GameStop rally, in which he pleaded his case as a daily financier who just liked the stock. Late last week, Gill doubled his holdings in GME to 100,000 shares, worth at the time about $4 million, reports The Wall Street Journal.
What could this perhaps have to do with a new skyrocketing GME stock price?
GameStop is up … once again, by a lot. Before market close on Wednesday, the video game retailers shares started to skyrocket, and GME simply closed at $91.71– up almost 104 percent for the day.
Its the greatest the stock has been considering that it fell back down to Earth at the beginning of the month following the extraordinary, Reddit-fueled rally that sent it as high as $483 a share. Throughout the afternoon, trading on the stock was halted two times.