GameStop's Second Stock Sale Raises $2 Billion Amid Roaring Kitty's Influence

  • 3 months ago
GameStop raised over $2 billion from selling 75 million shares in its second stock sale in a month, following a stock rally influenced by Keith Gill, also known as "Roaring Kitty." Roaring Kitty gained fame in 2021 by motivating online investors on Reddit's WallStreetBets to support GameStop, leading to a surge in its stock price and popularizing the term "meme stock" for stocks that gain traction on social media. GameStop has raised over $3 billion from stock sales over the last month as its market value increased due to renewed interest from individual investors. The recent jump in GameStop's stock price in June 2022 came after Roaring Kitty claimed on Reddit to own 5 million shares worth over $100 million.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02GameStop raised over $2 billion from selling 75 million shares in its second stock sale
00:08in a month following a stock rally influenced by Keith Gill, also known as Roaring Kitty.
00:13Roaring Kitty gained fame in 2021 by motivating online investors on Reddit's WallStreetBets to
00:18support GameStop, leading to a surge in its stock price and popularizing the term meme stock for
00:23stocks that gain traction on social media. GameStop has raised over $3 billion from
00:28stock sales over the last month as its market value increased due to renewed
00:32interest from individual investors. The recent jump in GameStop's stock price in the last month
00:37came after Roaring Kitty claimed on Reddit to own 5 million shares worth over $100 million.

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