GameStop Stock Volatile Amid Earnings, Roaring Kitty Buzz

GameStop posted first-quarter results and announced a share offering

Laura McCandless

Deputy Editor

Jun 7, 2024 at 10:35 AM

GameStop Corp (NYSE:GME) stock is having quite the volatile morning, ahead of Roaring Kitty's first YouTube appearance in three years, scheduled for 12pm ET. The company also announced disappointing first-quarter results ahead of the open, as well as an agreement with Jefferies to sell 75 million more shares after already selling 45 million.

Last seen down 5.8% to trade at $43.83, GME has traded as high as $48 and as low as $36.20 already in the first hour today. Trading has halted on and off today, with the stock also on the short sell restricted (SSR) list. The shares are up 108% year-to-date and 69% in the last 12 months.

In the options pits, GameStop has seen 251,000 calls and 121,000 puts exchanged so far, triple the overall volume typically seen at this point. The weekly 6/7 128-strike call is the most popular, followed by the 50-strike call in the same series, with new positions opening at the latter.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.