The ultimate meme stock doubled after its biggest booster suggest on social media that he has a big position
GameStop stock skyrocketed more than 100% on Monday before giving back just some of those huge gains, the latest meme stock rally fueled by the investor and social media personality known as “Roaring Kitty.” Shares of the video game retailer were still up a whopping 88% in pre-market trading Monday morning after rising 103%.
At the time, GameStop warned that investors who purchase shares in the offering could lose a “significant portion” of their investments due to the stock’s “extreme price fluctuations.” The company also disclosed in regulatory filings that it’s projecting quarterly sales to drop to $872-$892 million, down from $1.24 billion in the same quarter last year. GameStop also projected net losses between $27 million to $37 million for the quarter, an improvement from $50.
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