First, CEO George Sherman plans to step down on July 31 or potentially sooner if the company is able to find a replacement. This follows a Reuters report from last week which stated that the company had begun its search for a new CEO.
And then there's Keith Gill, aka Roaring Kitty or DeepF---ingValue posted a screenshot of his portfolio which showed that he exercised 500 GameStop call options expiring on Friday at a strike price of $12, which gives him 50,000 more shares.
Had Roaring Kitty not doubled down on GameStop, based on Friday's price, he could have made around $7 million.
TheStreet's M. Corey Goldman noted that Gill also bought another 50,000 shares of the videogame retailer, doubling his holdings to 200,000 shares from 100,000 at the beginning of the month, according to reports. His total investment in GameStop is now worth more than $30 million.
In the video above, Jim Cramer gives his latest thoughts on GameStop and his concern going forward.
Recap TheStreet Live: Everything Jim Cramer Is Watching Monday