Key Takeaways
- GameStop shares fell Monday as the meme stock faced another day of volatility.
- Markets reacted in part to news about Keith Gill, the trader known as "Roaring Kitty" who was a defining piece of the initial meme-stock craze of late 2020 and early 2021.
- Gill was revealed to have a 6.6% stake in online pet products retailer Chewy in an SEC filing Monday. He also faced a class-action lawsuit over allegations of a "pump and dump" scheme with GameStop shares, which was later dismissed.
Shares of GameStop (GME) fell Monday as investors reacted to news about 澳洲幸运5官方开奖结果体彩网:Keith Gill, the investor known as "Roaring Kitty" who was one of the key drivers of the 澳洲幸运5官方开奖结果体彩网:meme-stock craze of late 2020 and early 2021.
Gill faced a potential class-action lawsuit, filed late last week, over alleged manipulation of GameStop's share price. Investors may also think Gill has moved on from the video-game retailer after 澳洲幸运5官方开奖结果体彩网:news of his 6.6% stake in online pet store Chewy (CHWY).
Class-Action Suit Over Game🌺Stop Trading Dismisse꧒d
Gill has faced legal and regulatory questions in the past, testifying before Congress over his role in the original meme-stock craze. The class-action suit was filed in New York last week.
The complaint, which covered traders who bought GameStop shares between May 13 and June 13, alleged that Gill bought a number of call options before 澳洲幸运5官方开奖结果体彩网:returning to X in May with posts that he likely knew would inflate GameStop's share price. The case was dismissed Monday, according to court documents.
Subsequent reporting has indicated that regulators at the 澳洲幸运5官方开奖๊结果体彩网:Securities and Exchange Commissi🌟on (SEC) and in Massachusetts are looking into the trading activity around GameStop and his role in it. The Wall Street Journal has also reported that E*Trade and its parent Morgan Stanley (MS) are 澳洲幸运5官方开奖结果体彩网:considering whether Gill'♛s💎 actions constitute market manipulation and warrant removing him from their platform.
GameStop shares finished Monday down 5.✅5% at $23.33.