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GameStop was forced to suspend its annual shareholder meeting Thursday because of a technical problem.
“Earlier today, unprecedented demand from shareholders wanting access to GameStop’s Annual General Meeting led to a technical issue that prevented some investors from getting through, and the meeting was adjourned,” a spokesperson for Computershare, which hosted the meeting, told MarketWatch.
The meeting, scheduled to take place Thursday morning, instead featured 15 minutes of background music, MarketWatch reports. With investors unable to access the meeting, speculation about whether GameStop was the target of a cybercrime quickly surfaced online.
That didn’t stop GameStop stock from closing up 14% on the day.
GameStop stock has been a roller-coaster ride in recent weeks, largely due to the social media return of Keith Gill, the investor and meme stock booster better known by his online persona “Roaring Kitty.”
Gill resumed posting about the stock on social media last month, for the first time in years. That initially led to a huge rally, but that has since fizzled into a series of big gains and big losses. Meme stocks are company shares that become wildly popular online and are hotly traded by investors, most of them individual rather than institutional, sending prices soaring regardless of the company’s actual performance.
GameStop stock plummeted 40% in one day last week after Gill’s first YouTube livestream in three years.