By Suzanne McGee
(Reuters) – GameStop’s annual meeting scheduled for Monday is creating a growing buzz on social media among the company’s many avid retail investor fans.
The video game retailer’s stock has been on a tear over the past month after Keith Gill, the stock influencer known as Roaring Kitty who helped kick off the meme stock mania in 2021, resurfaced and later revealed a large position in GameStop.
Monday’s annual general meeting, scheduled for 12:30 p.m. ET, comes after a scheduled meeting this week was postponed due to a technical issue resulting from high demand from shareholders wanting to access the online feed, according to a spokesperson for Computershare, which is hosting the online feed host. -meeting only.
“Unprecedented demand from shareholders seeking access to GameStop’s annual general meeting led to a technical issue that prevented some investors from getting through, and the meeting was adjourned,” Computershare said.
It was not immediately clear to analysts and investors what issues would be discussed at the meeting or whether Gill, who reiterated his bullish case for GameStop in a livestream earlier this month, would be present or online.
The company’s last shareholder meeting in June 2023 lasted less than 15 minutes and included a brief statement from CEO Ryan Cohen.
GameStop confirmed the technical glitch in a press release but did not respond to requests for further comment. Gill did not respond to requests for comment.
That hasn’t stopped Roaring Kitty fans from speculating about what the meeting could bring. Some created their own memes ahead of the meeting, with one posted to
Reuters could not independently verify the authenticity of the messages and the posters did not respond to requests for comment.
Gill sparked the latest wave of exuberance among retail investors after he disclosed ownership of 5 million GameStop shares and 120,000 June $20 strike call options in a screenshot posted to Reddit on June 2.
Gill updated his position Thursday to indicate he now owns about 9 million shares and no options on the company. Gill may have sold all his options contracts and bought shares, or sold some of his option holdings and converted the rest into shares.
Shares of GameStop closed 1% lower at $28.70 on Friday. They have gained 67% since May 10, the last trading day before Gill resurfaced on social media after a three-year absence.
(Reporting by Suzanne McGee, additional reporting by Saqib Iqbal Ahmed; Editing by Ira Iosebashvili, Megan Davies and David Gregorio)
