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Luke Kawa

GameStop shoots up double digits on Keith Gill tweet featuring 69, 420

Shares of GameStop were jolted higher by over 10% and halted for volatility after Keith Gill, aka “Roaring Kitty,” tweeted this:

The picture is an edited version of Time Magazine’s “Person of the Year” cover from 2006. 

(It’s you. You — that is, people who post on the internet — were the person of the year, with Bill Gates as your predecessor and Vladimir Putin as your successor.)

AMC, another meme stock, also caught a bid on this micro missive; Chewy, a stock Gill has liked in the past, did not.

This more stripped-down edition of the cover also includes a time bar showing the video at 1:09/4:20. 

I haven’t the faintest clue what the 1:09 is about. GameStop doesn’t have any corporate event scheduled for January 9 (nor does Chewy, for that matter). There isn’t a weekly options expiry that day (that’s the next day). Perhaps Keith Gill plans on making some kind of announcement on Thursday, January 9, at 4:20 p.m. ET? Who knows. There isn’t a ton of open interest in out-of-the-money call options for the January 10 expiry in GameStop, either. We haven’t yet seen any ramps in activity the way we did in late April…

Oh wait. 1:09. 60 seconds in a minute. 69. Well then, that solves that.

On the other hand, 420 is a slang reference for what I want to do after having figured that out.

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“The company’s results and commentary reinforced the outlook for strong AI-infrastructure demand while indicating resilient broader traditional server and storage spending,” wrote Woo Jin Ho, a senior technology analyst at Bloomberg Intelligence. “Lenovo’s $21 billion AI-server pipeline and remarks that demand is outpacing supply support Dell’s AI-demand momentum and point to robust orders.”

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Ross Stores surges as Q1 results beat expectations, full-year guidance raised

Ross shares are rising after the company delivered strong Q1 results, with sales topping Wall Street’s projections.

The stock soared 6.3% just after the open.

Key numbers:

  • Earnings per share of $2.02 vs. $1.47 year over year (estimate: $1.72).

  • Sales of $6.01 billion, up 21% year over year (estimate: $5.61 billion).

  • Comparable sales growth of 17% (estimate: 8.58%).

CEO Jim Conroy attributed the results to better traffic in stores. “Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in‑store experience are resonating with shoppers.”

The company also noted that transaction volume grew across all key demographics, including “income levels, ethnicities, and age groups, including younger customers.” Sales were also likely buoyed by standard seasonal tailwinds, including consumer spending from tax refunds.

Backed by the strong quarter, the company lifted its full-year targets. Ross now projects same-store sales growth of 6% to 7%, up from the prior forecast of 3% to 4%, topping Wall Street’s estimate of 4.64%. It boosted its annual EPS guidance to a range of $7.50 to $7.74, versus the prior outlook of $7.02 to $7.36.

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