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Disastrous GME Shareholder Meeting Leads to Selloff

Written By: ChartChamp

June 18, 2024

There was a lot of hype surrounding the GME shareholder meeting last week, and GameStop claimed that there were technical difficulties due to high demand. The meeting was rescheduled to yesterday, and GME investors were very disappointed with the outcome. CEO Ryan Cohen didn’t hype up the stock, RoaringKitty was not introduced as a board member, and there were no bullish catalysts to drive the price up. Cohen did not share any plans or vision for the billions of dollars that were recently raised. For now the GME community is upset with GameStop’s failure to capitalize on the situation. We could still see some bullish news if RoaringKitty does a live stream or Cohen unveils the plans for the billions of dollars. I have support at the white trendline around $22 and resistance at the green trendline around $40. Both lines are trending down so they will decrease in price over time.

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