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☆ Death of Hedge Fund Stars: Wall Street, Stock Market Titans Are Gone
▼ + stars: | 2024-07-21 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Take activist hedge funds, which buy up a percentage of a company's stock (or an asset) and then use their weight to push for operational changes. Or there would be a fun, splashy war between the hedge fund and the C-suite. Hedge funds rely on outperforming the market when times are hard and it's easier to find pockets of outperformance and exploit them. Of course, hedge funds are having a hard time coming up with a crew because the clients have changed too. Advertisement"At the end of the 1960s, the bubble burst, and everyone thought, 'That's the end of hedge funds,'" Mallaby said.

Persons: David Tepper, Anthony Scaramucci, Lenny Kravitz, lanyards, Bobby Jain, Goldman Sachs, Denise Shull, Charles Lemonides, ValueWorks, Saba Capital's Boaz Weinstein, BlackRock, Nelson Peltz, Bob Iger, Paul Singer's Elliott, —, Elliott, Meir Statman, Statman, I'm, That's, Paris, Marc Jacobs, they've, they're, Sebastian Mallaby, Julian Robertson, Julian, Mallaby, Lemonides, wonky quants, Keith Gill, David Einhorn, Andrew Left, bro Organizations: Appaloosa Management, Carolina Panthers, Bellagio, Millennium Management, Credit Suisse, Jain, Disney, Paul Singer's Elliott Management, Santa Clara University, Behavioral Finance, New, Tiger Management, Met, rockstar, Ferrari, Greenlight, Harvard, Princeton grad, Research Locations: Vegas , New York City, Singapore, Argentine

☆ Tesla is acting like a meme stock right now, says billionaire 'Bond King' Bill Gross
▼ + stars: | 2024-07-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Tesla is acting like a meme stock right now, according to legendary bond investor Bill Gross. AdvertisementTesla is acting like a meme stock right now, according to legendary bond manager Bill Gross. In a post to X on Tuesday, Gross said of the electric vehicle company:Tesla acting like a meme stock — sagging fundamentals, straight up price action. But then there seems to be a new meme stock every other day now. — Bill Gross (@real_bill_gross) July 9, 2024The comments from Gross come amid an ongoing surge in Tesla stock.

Persons: Tesla, Bill Gross, Gross, —, Zapp, — Bill Gross, Keith Gill Organizations: Service, GameStop, Chewy

"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."

Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, —, Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's

☆ CNBC Daily Open: 'Roaring Kitty' gets chewed up
▼ + stars: | 2024-07-02 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock exchange during morning trading on Nov. 10, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. AI momentumWall Street kicked off the second half of the year with modest gains, propelled by continued strength in megacap stocks. Boeing, Spirit upShares of Boeing and Spirit AeroSystems rose 2.58% and 3.35% respectively after Boeing agreed to buy back fuselage maker Spirit in a $4.7 billion all-stock deal.

Persons: Keith Gill, Gill, Paris . Hurricane Beryl Cruise, Tom Lee, Lee Organizations: New York Stock, CNBC, Dow Jones, Nasdaq, Microsoft's, Paramount, Warner Bros ., Netflix, Securities and Exchange Commission, Wall, Boeing, Airbus, Paris . Hurricane, Norwegian Cruise, Royal Locations: New York City, U.S, Chewy, Belfast , Wichita, North Carolina, Paris ., Grenada, Norwegian, Royal Caribbean, Mt

☆ Investors just got an inflation wakeup call. Will they answer?
▼ + stars: | 2024-07-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Inflation rates in Canada, the EU and Australia have popped higher in recent months. But that disconnect appears to be fading as inflation rates in the US continue to ease. The US also had a recent scare as inflation rates ticked higher. But after a year of the Fed holding interest rates steady at a 23-year high, inflation rates in the United States are once again declining. High inflation readings around the globe are concerning investors, José Torres, senior economist at Interactive Brokers, told CNN.

Persons: ”, Brent Schutte, Schutte, José Torres, Torres, payrolls, Chewy, Keith Gill, Krystal Hur, Gill, Ryan Cohen, Jordan Valinsky, CSSE Organizations: CNN Business, Bell, New York CNN, EU, Federal, Federal Reserve, Bank of Canada, Northwestern Mutual Wealth Management, Interactive Brokers, CNN, Investors, Bank for International, BIS, Securities, Exchange, GameStop, Soul Entertainment, BBC, Sony Pictures, Walmart, Walgreens, Apollo Global Management, Sony, Netflix Locations: New York, Canada, Australia, United States, Europe, Redbox

☆ Branding Chewy a meme stock is bad for the pet retailer, according to Wall Street analysts
▼ + stars: | 2024-07-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Chewy shares started swinging wildly after online personality Roaring Kitty revealed a big stake , but Wall Street analysts believe being branded as a meme stock is not good for the pet retailer. The meme stock leader, whose legal name is Keith Gill, has taken a 6.6% stake in Chewy, making him the third-largest shareholder. An initial boost in the share price — it surged 18% in two days early last week — has quickly faded, with shares falling more than 5% Monday. Many believe BC could use any rally in Chewy stock to sell more of its stake, putting a temporary ceiling on the shares. The dynamic could be at play Monday as Chewy's stock opened 9% higher, only to quickly give up all the gains and turn lower.

Persons: Chewy, Kitty, Keith Gill, —, David Bellinger, Gill, Don Bilson, Gordon Haskett, Seth Basham, Michael Bloom Organizations: GameStop, AMC, BC Partners, Partners Locations: Chewy

☆ Stocks making the biggest moves midday: Chewy, GameStop, Boeing, Norwegian Cruise Line and more
▼ + stars: | 2024-07-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Boeing , Spirit AeroSystems — Boeing on Monday said it would buy back fuselage maker Spirit AeroSystems in a $4.7 billion all-stock deal. Trump Media & Technology Group — Shares of Trump Media & Technology Group rose 3% following a roughly 11% loss during Friday's session. Nio — The Chinese electric vehicle stock rose 6% on Monday after the company said vehicle deliveries rose nearly 100% in June . Tesla — The electric vehicle stock popped 6%. NextEra Energy Partners — The renewable energy stock dropped 5%.

Persons: Keith Gill, Joe Biden, Donald Trump, Birkenstock, Nio, Tesla, Beryl, —, Jesse Pound, Michelle Fox, Alex Harring, Sarah Min, Hakyung Kim Organizations: GameStop, Boeing, Trump Media & Technology, Trump Media & Technology Group, UBS, Point Capital Management, NextEra Energy Partners, Royal Bank of Canada, Cruise, Royal Locations: Point, Grenada, Royal Caribbean

☆ Chewy stock whipsaws after Roaring Kitty discloses a $245 million stake
▼ + stars: | 2024-07-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Chewy shares opened 9% higher before reversing lower after Keith Gill disclosed a big stake. AdvertisementShares in the online pet retailer Chewy opened 9% higher on Monday before reversing lower after famed meme-stock trader Keith Gill unveiled a multi-million-dollar stake. The document shows he owns just over 9 million Class A shares, worth $245 million as of Friday's closing price. As of mid-June, he held over 9 million shares in GameStop. 13G SEC Filing related to Keith Gill's Chewy stakeIn Monday's SEC filing, Gill also marked down that "I am not a cat."

Persons: Keith Gill, Kitty, Gill, —, Chewy, that's, it's, Keith Gill's Chewy Organizations: Service, US Securities and Exchange Commission, Mizuho Securities, GameStop, Bloomberg, SEC Locations: Chewy, New York

☆ Stock market today: Indexes rise and bond yields soar as 2nd half of the year kicks off
▼ + stars: | 2024-07-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The 10-year Treasury yield spiked 13 basis points to 4.479%. AdvertisementUS stocks ended higher on Monday to start the second half of the year, rising even as bond yields soared during the session. Meanwhile, shifting outlooks on the US election have added uncertainty to the bond market, and yields on the 10-year Treasury surgedon Monday. The 10-year Treasury yield spiked 12 basis points to 4.469%. Among individual stock movers on Monday, Chewy whiplashed after meme-trading legend Keith Gill disclosed a $245 million stake in the company.

Persons: —, Stocks, surgedon, Joe Biden, Donald Trump, Goldman Sachs, Jerome Powell, John Williams, Chewy, Keith Gill Organizations: Treasury, Service, Nasdaq, Federal Reserve, Trump, Traders, Federal Locations: France

☆ Chewy shares rally 20% after SEC filing reveals ‘Roaring Kitty’ Keith Gill has 6.6% stake
▼ + stars: | 2024-07-01 | by ( Fred Imbert | ) www.cnbc.com time to read: 1 min

Shares of Chewy popped in the premarket trading Monday after a Securities and Exchange Commission filing showed meme stock trader "Roaring Kitty" took a stake in the pet food e-commerce retailer. The filing showed Keith Gill bought just over 9 million shares — amounting to a 6.6% stake in the company. That makes him the third-biggest Chewy shareholder, according to FactSet. Based on Friday's close, that stake is valued at more than $245 million. The stock was up more than 20% before the bell.

Persons: Keith Gill Organizations: Securities and Exchange Commission

☆ Chewy shares fall after surging on revelation of ‘Roaring Kitty’ meme trader’s 6.6% stake
▼ + stars: | 2024-07-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of online pet products retailer Chewy went on a wild ride Monday after Keith Gill, the influential meme stock trader also known as ”Roaring Kitty,” revealed a large stake in the company. On Monday, Gill said in a Securities and Exchange filing that he purchased about 9 million Chewy shares (CHWY), amounting to a 6.6% stake in the company. Chewy shares slipped about 5% mid-morning on Monday after jumping as much as 10% earlier in the session. Ryan Cohen, the founder of Chewy, is the chief executive of GameStop, the embattled video game retailer Gill is known for championing. Gill revived the meme stock frenzy in May after breaking a three-year social media hiatus to post a cartoon on X.

Persons: Chewy, Keith Gill, ”, Gill, Ryan Cohen, ” Gill Organizations: New, New York CNN, Securities, Exchange, GameStop, CNN, Financial Services Locations: New York, Texas

☆ Stock market today: Indexes rise to kick off the 2nd half as traders look ahead to fresh jobs data
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ticked higher as traders looked to kick off the second half of the year,The market is adding to a strong performance in the first half, with the S&P 500 up 14% year-to-date. Investors are waiting for the June jobs report to roll out on Friday, which could shape the outlook for rate cuts. AdvertisementUS stocks surged on Monday as traders looked ahead to fresh jobs data at the end of the holiday-shortened week. Major indexes rose to add to gains from the already strong first half of 2024, while bond yields also ticked higher. Economists expect the economy to have added 190,000 jobs in the last month, down from 272,000 jobs added in May.

Persons: —, Stocks, Hogan, Riley Wealth, Keith Gill Organizations: Service, Nasdaq, Nvidia, Treasury, GameStop, Here's

☆ These retail traders lost big in the first meme stock episode. Here's why they won't stop betting on GameStop.
▼ + stars: | 2024-06-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

GameStop stock is still the fascination of day traders, even after many saw big losses in 2021. The allure of striking it rich on the meme stock is too great to ignore, traders told BI. Business Insider spoke with retail traders, who asked to use only their first name for privacy, about how past losses are impacting their decision to go long GameStop again. Still, he couldn't help himself from scooping up more GameStop shares when the stock rocketed higher this year. Advertisement"I dabbled a little bit with this current uptrend, certainly nowhere near the levels I was putting in before.

Persons: they're, —, Keith Gill —, Dan, couldn't, Brian, I've Organizations: GameStop, Service, Business, lotto Locations: Reddit, Gill's, California

☆ Stock market today: Indexes edge higher, yields fall ahead of the Fed's favorite inflation gauge
▼ + stars: | 2024-06-27 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

Stocks ended Thursday slightly higher ahead of a key update on inflation. PCE for May will be published on Friday morning, providing new hints about when rate cuts may be coming. Chip firms Nvidia and Micron dipped in Thursday's session, though the broader Nasdaq edged higher. Bond yields dipped ahead of the new data, with the 10-year Treasury yield falling about two basis points to 4.292%. "More recent data have moved in the right direction, but not by enough to convince the Fed that inflation is whipped."

Persons: Stocks, —, economy's, Bill Adams, Michelle Bowman, Keith Gill Organizations: PCE, Nvidia, Micron, Nasdaq, Service, Commerce Department, Treasury, Friday's PCE, Federal Reserve, Comerica Bank, Fed, Here's Locations: Friday's, U.S, Chewy

A picture of a cartoon dog appeared on his X feed Thursday afternoon, briefly driving up Chewy shares as much as 34% to $39.10. Chewy shares surged on Thursday after meme stock leader Roaring Kitty posted a picture on social media platform X that resembles the logo of the online pet food retailer. There's also a strong connection between meme stock GameStop and Chewy. GameStop CEO Ryan Cohen was the founder and CEO of Chewy, who was instrumental in PetSmart's takeover of Chewy in 2017 and its subsequent initial public offering in 2019. He later took over as GameStop CEO in 2023, leading a turnaround in the brick-and-mortar video game retailer.

Persons: Kitty, Keith Gill, Chewy, Roaring Kitty, There's, Ryan Cohen, Cohen, Petco, Gill Organizations: GameStop, Chewy, Massachusetts Mutual Life Insurance Locations: Chewy

☆ Roaring Kitty post of a dog sparks brief rally in shares of Chewy and Petco
▼ + stars: | 2024-06-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Chewy and Petco shares spiked briefly on Thursday after Keith Gill posted a dog on his X account. Chewy shares were up as much as 28%, while Petco shares surged as much as 13%. The petcare stocks spiked around 1:00 p.m. as Gill posted the image. Shares soared again when the famous retail trader posted screenshots on his Reddit account, which revealed he owned 5 million shares of GameStop stock. He's since nearly doubled his stake to 9 million shares and is among the top holders of the video game retailer's stock.

Persons: Keith Gill, —, Gill, Chewy, Petco Organizations: Service, Petco, Wellness Company, GameStop

☆ Wednesday's analyst calls: Stifel gets bullish on Tesla, FedEx seen rallying 40%, Citi boosts Nvidia
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Stifel opened coverage on Tesla with a buy rating and an ambitious price target as it sees multiple growth opportunities for the company. Crockett also increased his price target by $64 to $260, which now suggests shares can rally 24.4% from Tuesday's closing price. Goldman also hiked his price target by $7 to $52, now reflecting upside potential of 17.7% over Tuesday's close. Analyst Stephen Gengaro initiated the electric vehicle maker at a buy rating with a $265 price target.

Persons: Rosenblatt, Barton Crockett, Crockett, — Alex Harring, Atif Malik, Malik, Blackwell, Wolfe, Robinhood, Steven Chubak, Chubak, Jason Warnick, That's, Keith Gill, Katja Jancic, Jancic, Brian Ossenbeck, Ossenbeck, Campbell, Ken Goldman, hasn't, Goldman, underperformance, Stifel, Stephen Gengaro, Gengaro, Alex Harring Organizations: CNBC, Federal Express, JPMorgan, FedEx, Apple, Apple Intelligence, Android, Meta, Microsoft, Nvidia, Citi, Wolfe Research, . Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Nippon, US, U.S . Steel, CPB, Tesla Locations: Tuesday's, Japan, U.S

☆ Roaring Kitty's slim chance to become a billionaire from his GameStop bet, explained
▼ + stars: | 2024-06-21 | by ( Anuz Thapa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoaring Kitty's slim chance to become a billionaire from his GameStop bet, explainedMeme stock celebrity Keith Gill, aka 'Roaring Kitty,' has been dominating headlines since his online reappearance in May 2024 after a three-year hiatus. Wall Street closely follows his posts, which usually consist of memes and cryptic messages. These messages have caused significant volatility, especially in GameStop shares. Watch the video to see how his return has reignited the meme stock craze and whether his GameStop bet could make him a billionaire.

Persons: Keith Gill Organizations: GameStop

☆ CNBC Daily Open: Boeing's 'moment of reckoning'
▼ + stars: | 2024-06-18 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Immigrants, jobs and inflationImmigration has helped the U.S. job market sustain a strong run in recent months without reigniting inflation, economists and analysts say. This dynamic — a hot job market and cooling inflation — is in part the result of increased inflows of immigrants. The conglomerate sold 1.3 million shares for $39.8 million, reducing its holding to 6.9%. [PRO] S&P 500 to hit 6,000Evercore ISI predicts the stock market will soar to unprecedented heights, setting a new year-end target for the S&P 500 at a record 6,000.

Persons: Neel Kashkari, CNBC's Rebecca Picciotto, Ryan Cohen, Keith Gill, Matthew Bartolini, Berkshire Hathaway, Charlie Munger, Tesla Organizations: CNBC, Microsoft, Apple, Nasdaq, Dow Jones, Minneapolis Federal, GameStop, Fund, Nvidia, SPDR Locations: U.S, SPDR Americas, Berkshire, BYD

The meme stock was down about 12%, as the company's rescheduled shareholder event wrapped up with no detailed remarks about its strategies. GameStop shares dropped to session lows Monday after the company's highly anticipated annual meeting failed to offer any concrete updates on the video game retailer's future plans. Cohen didn't provide more specifics on the company's future growth strategies. GameStop is still struggling with a transition to online gaming and away from brick-and-mortar video game purchases, with investors banking on Cohen to eventually reinvent the company. The retailer recently raised more than $2 billion in an at-the-market equity sale as the video game company took advantage of the revived meme rally.

Persons: Ryan Cohen, Cohen, Cohen didn't, Roaring Kitty, Keith Gill, Gill Organizations: GameStop, New York Stock Exchange Locations: New York City, U.S

☆ What Warren Buffett said about GameStop mania then, as the frenzy returns in 2024
▼ + stars: | 2024-06-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Meme stock and erstwhile videogame retailer GameStop is back in the limelight as Reddit ringleader Roaring Kitty stirs up another trading frenzy. Warren Buffett commented at length about the speculative behavior during the first GameStop mania in 2021. Then, the "Oracle of Omaha" called the stock market a gambling parlor for retail investors, encouraged by Wall Street's investment banks and brokerages. "It's become a very significant part of the casino group that has joined into the stock market," Buffett said at 2021's Berkshire annual meeting . Options trading in GameStop exploded after Roaring Kitty, whose legal name is Keith Gill, touted his large positions in those risky vehicles.

Persons: Kitty, Warren Buffett, Wall, It's, Buffett, They've, Keith Gill, John Maynard Keynes Organizations: GameStop, Berkshire, Citadel Securities Locations: Omaha

☆ Stocks making the biggest moves midday: Adobe, RH, Hasbro and more
▼ + stars: | 2024-06-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Adobe — The software stock surged 14% on stronger-than-expected quarterly results. Adobe posted adjusted earnings of $4.48 per share on $5.31 billion in revenue and boosted its full-year guidance. JPMorgan also upgraded shares to overweight from neutral. Hasbro — The toymaker's shares jumped 4.8% on the back of an upgrade from Bank of America to buy from neutral. Dell Technologies — The PC maker fell more than 1% after CEO Michael Dell disclosed the sale of 5.7 million shares.

Persons: RH, LSEG, Zscaler, Keith Gill, Stellantis, Michael Dell, —, Alex Harring, Michelle Fox, Pia Singh Organizations: Adobe, JPMorgan, Wall, Hasbro, Bank of America, Zero Trust Network Security, Boeing — Boeing, Federal Aviation Administration, Airbus, New York Times, GameStop, Dell Technologies Locations: Bank, U.S

☆ Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.

Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security

☆ CNBC Daily Open: Mega money Musk, Kitty's stake grows
▼ + stars: | 2024-06-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Chipmaker Broadcom soared after it delivered better-than-expected second-quarter earnings and announced a 10-for-1 stock split. Mainland China's CSI 300 index fell 0.4%, while South Korea's Kospi rose 0.3%. Broadcom's shares soared 13% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.

Persons: Elon, Musk, Janet Yellen, that's, Yellen, CNBC's Andrew Ross Sorkin, That's, Kitty, Keith Gill, Gill, Australia's, BofA Organizations: CNBC, Dow, Nasdaq, Broadcom, Dow Jones, Musk, Treasury, GameStop, Trade, Nikkei, Bank of Japan's, U.S, China's CSI, Chipmaker Broadcom, Bank of America Locations: U.S, Delaware, Japan, South

☆ Roaring Kitty becomes the 4th largest GameStop shareholder after nearly doubling his position to 9 million shares
▼ + stars: | 2024-06-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Keith Gill appears to have nearly doubled his GameStop position to nine million shares. AdvertisementKeith Gill, better known as Roaring Kitty on social media, appears to have nearly doubled his position in GameStop stock. With Gill's massive options position in the money, he partially sold the options and exercised some to acquire an additional 4 million shares at $20 each. He was briefly worth nearly $1 billion when GameStop stock soared to more than $60 in after-hours trading last week. Gill's nine million shares in GameStop are slightly ahead of the 8.3 million shares owned by State Street and behind the more than 20 million shares BlackRock, Vanguard, and GameStop CEO Ryan Cohen each hold.

Persons: Keith Gill, Gill, —, Ryan Cohen, Reddit Organizations: GameStop, Service, State Street, BlackRock, Vanguard, SEC

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