GameStop’s shares jumped on Thursday after a cryptic post from meme stock influencer Keith Gill, who shot to notoriety after his online personas and bullish bets on the video game retailer sparked a trading frenzy among mom-and-pop investors.
Gill posted a picture resembling a Time magazine cover from 2006 with a computer screen on social media platform X. Following his post, GameStop’s shares spiked and traded as high as $30.87. The stock closed up 6% at $28.63.
Known as “Roaring Kitty” on YouTube and “DeepF***ingValue” on Reddit’s popular WallStreetBets, Gill was a key figure in the so-called “Reddit rally,” in which GameStop stock surged 1,600% at one point in January 2021, crushing hedge funds that had bet against the videogame retailer.
Steve Sosnick, chief strategist at Interactive Brokers, noted that this is characteristic of a pattern that has evolved in the trading of GameStop: the stock’s price will rally, then when it settles down a bit or retreats, Gill’s “Roaring Kitty” persona tends to emerge with a social media post.
“We’ve seen that pattern again recently; the stock was at $21 earlier in November but then rallied to $30 or so around Thanksgiving, only to give back most of those gains over the last couple of days.”
On Thursday, about 300,000 GameStop options contracts had changed hands by 2:14 p.m., at about 1.5 times the usual pace, according to data from options analytics firm Trade Alert.
The stock’s 30-day implied volatility how much traders expect the shares to move around over the short term jumped to a 3-week high of 132%, up from 93% in the previous session, data showed.
Contracts betting on the shares finishing above $30 by Friday were the most actively traded options, with some 32,000 of them traded by late afternoon.
Gill resurfaced on social media earlier in 2024, after a three-year hiatus leading to a deluge of excited messages from his followers, many of whom have likened the social media phenomenon to a David who took on Wall Street’s Goliaths and won.
“The re-emergence of the popularity of meme stocks tends to follow any general resurgence in market enthusiasm and animal spirits,” said Art Hogan, market strategist at B. Riley Wealth Management. “Whenever markets are at or near all-time highs, that particular part of the speculative side of stocks tends to pop up again.”
The meme stock rally in 2021 was set off by Gill’s posts on WallStreetBets subreddit about the gains he had made on his investments in the highly shorted firm.
The rally spread to other highly shorted stocks including AMC Entertainment as Reddit users banded together to squeeze bearish hedge funds, costing them billions in losses and drawing scrutiny from US regulators.
The entire episode inspired Craig Gillespie’s 2023 movie “Dumb Money.”
Other so-called meme stocks also traded higher on Thursday after Gill’s post. Shares of Unity Software closed up 5%, while cinema chain AMC, another darling of retail investors from 2021, climbed 6%.
“It wouldn’t surprise me if the faithful haven’t been distracted by other things. Crypto has stolen GameStop’s thunder recently,” Sosnick said.
The video game retailer’s stock is up around 76% so far this year. Meanwhile, bitcoin has surged more than 130% and surpassed the $100,000 mark earlier on Thursday, fueled by optimism over easing regulatory headwinds, in what is a stunning rally for the world’s largest cryptocurrency.
The UK must rebuild its military and get the whole country ready for war as the threat of conflict with a nuclear power like Russia or China is real, a major defence review warns.
It described what might happen should a hostile state start a fight, saying this could include missile strikes against military sites and power stations across the UK, sabotage of railway lines and other critical infrastructure and attacks on the armed forces.
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3:12
PM challenged on NATO, defence and Gaza
In a devastating verdict on the state of Britain’s defences, the Strategic Defence Review (SDR) said today’s armed forces are “not currently optimised for warfare”, with inadequate stockpiles of weapons, poor recruitment and crumbling morale.
“The international chessboard has been tipped over,” a team of three experts that led the review wrote in a foreword to their 140-page document.
“In a world where the impossible today is becoming the inevitable tomorrow, there can be no complacency about defending our country.”
Image: British soldiers from the 16 Air Assault Brigade training in North Macedonia. Pic: AP
The review, which was commissioned by Sir Keir Starmer last July, made a list of more than 60 recommendations to enable the UK to “pivot to a new way of war”.
They include:
Increasing the size of the army by 3,000 soldiers to 76,000 troops in the next parliament. The review also aims to boost the “lethality” of the Army ten-fold, using drones and other technology.
A 20% expansion in volunteer reserve forces but only when funding permits and likely not until the 2030s.
Reviving a force of tens of thousands of veterans to fight in a crisis. The government used to run annual training for the so-called Strategic Reserve in the Cold War but that no longer happens.
Embracing new technologies such artificial intelligence, robots and lasers. The paper said the UK must develop ways to defend against emerging threats such as biological weapons, warning of “pathogens and other weapons of mass destruction”.
The possibility of the UK buying warplanes that could carry American nuclear bombs to bolster the NATO alliance’s nuclear capabilities. The review said: “Defence should commence discussions with the United States and NATO on the potential benefits and feasibility of enhanced UK participation in NATO’s nuclear mission.”
The expansion of a cadet force of children by 30% and offering a “gap year” to people interested in sampling military life.
Increasing the size of the army by 3,000 soldiers to 76,000 troops in the next parliament. The review also aims to boost the “lethality” of the army 10-fold, using drones and other technology.
New investment in long-range weapons, submarines, munitions factories and cyber warfare capabilities.
General Sir Richard Barrons, part of the review team and a former senior military officer, described the vision as “the most profound change” to UK defences in 150 years.
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This includes only a brief mention of bolstering the UK’s ability to defend against cruise and ballistic missiles – a key weakness but one that would be very expensive to fix.
Earlier today, Prime Minister Sir Keir Starmer said the Strategic Defence Review was a “blueprint to make Britain safer and stronger, a battle-ready armour-clad nation, with the strongest alliances and the most advanced capabilities, equipped for the decades to come”.
Defence Secretary John Healey, writing in a foreword to the document, said “up to” £1bn would be invested in “homeland air and missile defence” as well as the creation of a new cyber and electromagnetic warfare command.
The review was drawn up with the expectation that defence spending would rise to 2.5% of GDP this parliament – up from around 2.3% now – and then to 3% by 2034. The government has pledged to hit 2.5% by 2027 but is yet to make 3% a cast iron commitment.
The reviewers said their recommendations could be delivered in 10 years if that spending target is reached but they gave a strong signal that they would like this to happen much sooner.
“As we live in such turbulent times it may be necessary to go faster,” the team said.
“The plan we have put forward can be accelerated for either greater assurance or for mobilisation of defence in a crisis.”
The review described the threat posed by Russia as “immediate and pressing”.
It said China, by contrast, is a “sophisticated and persistent challenge”.
It pointed to Beijing’s growing missile capability that can reach the UK and said the Chinese military’s nuclear arsenal is expected to double to 1,000 nuclear warheads by 2030.
The other two reviewers were Lord George Robertson, a former Labour defence secretary, and Fiona Hill, a Russia expert and former foreign policy adviser to Donald Trump.
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The review team warned the post Cold War-era of relative peace has ended and a time of contest, tension and conflict has returned.
Adding to the pressure, the US – by far the most powerful member of the NATO alliance – is focusing more on the threat it sees from China.
“Changes in the strategic context mean that NATO allies may be drawn into war with – or be subject to coercion by – another nuclear armed state,” the review said.
“With the US clear that the security of Europe is no longer its primary international focus, the UK and European allies must step up their efforts”.
The review set out how defence is not only the responsibility of the armed forces because countries – not just the professional military – fight wars.
It said: “Everyone has a role to play and a national conversation on how we do it is required… As the old saying goes, ‘If you want peace, prepare for war’.”
Sky News and Tortoise will launch a new podcast series on 10 June that simulates a Russian attack on the UK to test Britain’s defences, with former ministers and military chiefs playing the part of the British government.
Segway’s new Xafari and Xyber e-bikes with Apple Find My, proximity locking, more get first post-launch savings from $2,200
Segway is celebrating Father’s Day with surprise price cuts of up to $300 on the brand’s two new e-bikes for the first time. Through June 15, you’ll be able to hop aboard the Xafari e-bike for $2,199.99 shipped, while the Xyber e-bike sits higher at $2,999.99 shipped. These two models normally go for $2,400 and $3,300, respectively, since the brand raised the Xyber’s price due to tariffs on May 1. The discounts we’re seeing here are the first post-launch cash savings, bringing the Xafari back to match its preorder launch pricing, while taking the Xyber back to its original MSRP.
Praised by Segway as the model “for everyone, yet far from ordinary,” the Xafari e-bike is an all-terrain cruiser for riders of different ages and skill levels. It comes equipped with a 750W rear hub motor paired with a removable 936Wh battery to hit 20 MPH top speeds (in as fast as 5.2 seconds) for up to 88 miles on a single 6-hour charge with its 12 PAS levels activated (supported by a torque sensor). Comfort is the main focus here, with ergonomic positioning, 80mm front/70mm rear suspension, an adjustable compression damping and lock-out fork, and 26-inch by 3-inch all-terrain tires – all adding to a smoother riding experience. There’s also the adjustable-height saddle with quick-release and an adjustable stem, a rear-mounted cargo rack, Tektro hydraulic disc brakes, front and rear lighting (including brake lighting), an integrated multi-color smart TFT display with a 20W USB A/C port, and more.
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Of course, one of the biggest additions to Segway’s e-bikes, is the inclusion of the brand’s Intelligent Ride System. This gives them some high-end smart features like Airlock wireless proximity security, an alarm system, Apple Find My, GPS, adaptive pedal assistance, and plenty more. You can get the full rundown on these features in our original CES 2025 launch coverage here.
Speaking of the Xyber e-bike, which sports the same Intelligent Ride System features as the above model, it is the mid-range, light EV that is perfect for speed freaks, as it can go from 0 to 20 MPH in just 2.7 seconds, and keep climbing up to a 35 MPH top speed when set in race mode. It’s been given a monstrous 6,000W direct-drive motor and a 2,880Wh dual-battery setup, letting it carry you for up to 112 miles on a single 4-hour charge. There are 12 levels of pedal assistance here, as well as three different modes for throttle-only riding.
It’s been equipped with an inverted dual-crown fork at the front alongside a classic swing-arm design at the rear – plus, the coil-sprung, hydraulically damped front and rear suspension for added comfort on uneven terrain. You’ll also find Tektro hydraulic disc brakes here for stopping power, with the whole thing sitting atop two 20-inch by 5-inch tires with flat-resistant inserts, among other top-notch features. One thing to note here, though, is that Segway has specified this current model to be an unclassified e-bike for maximized performance over on-road or non-permitted trail riding, with a road-legal model that meets regulations coming later in the year.
Power essentials through hurricane season with EcoFlow’s DELTA Pro 400W solar bundle at new $2,199 low
With the calendar having stepped into June, so too have we officially stepped into 2025’s hurricane season, and EcoFlow is offering up to 55% off backup power solutions through June 8 to help you prep, complete with extra savings. Among the lineup, we spotted several continuing member-only deals that have increased savings from the brand’s two-day May Madness event, like the well-regarded DELTA Pro Solar Generator bundle with a 400W panel for $2,199 shipped, which doesn’t benefit from the 5% bonus savings, sadly, but does benefit from 2x EcoCredit reward points. This package would normally run you $4,898 at full price, which we’ve seen go as low as $2,299, most recently during last week’s short-term May Madness discounts. This is a 55% markdown that cuts $2,699 off the going rate, landing it $100 lower than ever for the best new price we have tracked. It’s even coming in $200 under Amazon’s current pricing.
One of the brand’s larger modular backup solutions, the DELTA Pro is ready to power you through trips in nature, at gatherings and events, or during emergencies with its starting 3,600Wh LiFePO4 capacity. What’s great is that with future investments (expansion batteries), you can expand it all the way up to 25kWh. Through its 14 output ports, it dishes out a steady stream up to 3,600W, surging to 7,200W for larger needs.
It recharges its own battery cells fairly quick, with a wall outlet putting it back to full in about 1.8 hours, or you could do so in 2.8 hours when taking advantage of its maximum 1,600W solar input. There’s other ways to top off its levels, including generators, with an auxiliary car port, and more. You’ll also get the full array of smart controls you would expect through its companion app via either Wi-Fi or Bluetooth.
EcoFlow’s other Member-only deals:
To browse the entire lineup of EcoFlow’s June Disaster Sale follow this link to our full coverage here, with plenty of savings on in-house and out-of-house power solutions at up to 55% off – plus, the bonus 5% extra savings that are not stackable with the above member-only pricing.
This EGO 56V 21-inch cordless select cut self-propelled mower kit with 7.5Ah and 5.0Ah batteries back at $600 low
Amazon is offering a return low price on the EGO Power+ 56V 21-Inch Cordless Electric Select Cut Self-Propelled Lawn Mower Kit that comes with 7.5Ah and 5.0Ah batteries at $599.99 shipped. This newer model hit the scene at the top of last year and is coming off its $998 full price here today. March of last year was the last time we spotted this low price, with the discounts in the time since only going as low as $700. You’re now getting a second chance at the best price we have tracked for this package, which equips you with plenty of power to cover lawn care needs at home with $398 in savings.
It’s one of the best times of the year to consider trading your gas guzzler for a more eco-friendly electric means to tackle lawn care, and this cordless mower from EGO comes with more power than we usually see. Just using the 7.5Ah ARC battery provides enough juice for up to 60 continuous minutes of runtime, with the 5.0Ah battery being a convenient way to extend that time for longer jobs. The included 550W charger can bring these batteries back to full in up to 60 minutes, letting you use one while charging another for near-endless runtimes.
Aside from the six-position cutting height levels (from 1.5 to 4 inches) and three-in-one functionality (bagging, side discharging, mulching), you’ll also be getting the brand’s select cut system here, giving you more customization options for different needs. Thanks to this setup, the blades are interchangeable between lower mulching blades and high-lift bagging blades. Mobility is far easier as the self-propulsion does most of the work for you – plus, annoying pull strings are a thing of the past with its push-button start.
Segway’s Navimow i Series of RTK robot mowers get rare price cuts starting from $849 in Father’s Day savings
Through Father’s Day, Segway is offering rare 15% discounts on its Navimow i Series Robot Lawn Mowers, with the i105 model down at $849 shipped and matching at Amazon, while the i110 model is down at $1,099 shipped and only available on the direct site. These models don’t often see many discounts from their $999 and $1,299 price tags compared to its H series counterparts, with the last price cuts we saw being on the i105 model back during Black Friday when prices dropped to its $799 low. You can grab them here at the second-lowest price we have tracked for the i105 and the lowest price we’ve seen on the i110 model, giving you $150/$200 in savings while automating your lawn care routine.
While it doesn’t sport the fanciest of bells and whistles like Segway’s new X3 Series of robots, which are now officially available for online purchase, the brand’s Navimow i Series are the smaller and more affordable option for those on tighter budgets, with the i105 model covering up to 1/8 acres and the i110 model covering up to 1/4 acres on a single charge. Keep in mind that these robots can stop progress to recharge at their station, picking up where they left off after finishing. One of the standout designs here is the trading of perimeter wires for RTK positioning paired alongside AI-assisted mapping through its 140-degree FOV camera.
The brand’s Exact Fusion Location System 2.0 is the name of the game, working with the AI to utilize satellite navigation to keep track of the robot’s position regardless of how complicated your yard/garden layout is or how much tree coverage there may be. This feature also doubles as a security measure, allowing you to track the robot’s real-time location while it works or in case of theft. Through its companion app you’ll have access to its full array of other smart features too, like setting schedules, marking off-limits zones, and customizing the 3D mapping routes/settings – and it has the memory for 12 different zones.
There’s two other big robot lawn mower deals running right now on new models, with the ECOVACS Goat RTK Robot Lawn Mowers currently getting up to 25% off discounts on three models starting from $900. There’s also the highly advanced Anker eufy E15 and E18 Robot Mowers that do away with RTK positioning and boundary wires for pure vision FSD navigation, getting $300 discounts and a $100 free gift.
Segway E2 Plus II eKickScooter (preorder until June 3): $350 (Reg. $400)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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When Tesla CEO Elon Musk publicly denied a report that Tesla had canceled its work on the $25,000 “Model 2” despite the project ending weeks prior, Tesla executives were “alarmed” by Musk’s public lie, according to a new report by Reuters.
In April 2024, Reuters reported that the long-awaited $25,000 Tesla, nicknamed “Model 2” by the public, had been canceled.
Immediately after the report, Tesla CEO Elon Musk responded, stating “Reuters is lying (again).”
However, when he made this statement, Musk knew that the report was correct, and that he had cancelled the project weeks earlier.
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This new information comes from a report by Reuters today, citing company documents and the standard “people familiar with the matter.”
The public denial caused confusion among Tesla executives, some of whom wondered if the project was back on, or who were concerned that customers may delay purchases waiting for a product that they and Musk knew would never come.
It also concerned executives due to an agreement Musk made with the SEC which required a lawyer to oversee his Tesla-related tweeting activities, after he had previously been caught misleading investors into thinking he had secured funding to take Tesla private.
Musk’s lie about the $25k Model 2 project stopped a decline in TSLA stock, which had slid by 6% so far that day, and the stock recovered partially by the end of the day. Given the market-moving nature of the statement, and the subject matter of being about Tesla’s future plans, it was thought that this would be another clear violation of Musk’s settlement with the SEC.
Reuters has been one of his main targets, but he has generally shown disdain for the media, and this attitude isn’t new.
In 2018, he floated the idea of creating a website to rank “truth” in media, proposing the name “Pravduh.” The idea came after a series of negative reports about Tesla, making it clear that the effort was less about truth, and more about Musk feeling slighted about recent coverage.
In a similar vein to his attacks on Reuters, he and the Tesla board recently denied a WSJ report that they were seeking a replacement for Musk as CEO. Musk responded personally, stating that it was an “EXTREMELY BAD BREACH OF ETHICS” for WSJ to publish a “DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial,” even though WSJ reached out to Tesla and was given no comment beforehand.
One of the reasons WSJ couldn’t get comment beforehand is because Tesla dissolved its PR department years ago. Companies keep PR departments so that press can have a clear a consistent idea of a company’s position on the matter, and so that journalists can reach out to the company for comment beforehand. Musk’s anger at WSJ for not including a denial from a department that he himself dissolved suggests that perhaps he relishes the opportunity to strike out against the media, as his own actions have been responsible for the lack of communication between Tesla and the media.
Immediately after Tesla lowered the price of the upgrade, we found that Elon Musk had blocked our site’s account on Twitter, and also blocked my colleague Fred Lambert, who was not involved in reporting the story. We were also banned from future Tesla events due to our true and fair report.
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