July 21, 2024

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GameStop annual shareholder meeting 2024 servers crash

2 min read

Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. 

Brendan McDermid | Reuters

GameStop’s annual shareholder meeting experienced server issues Thursday, crashing under overwhelming interest for the stream, a customer service representative for the company hosting the stream told CNBC.

The meeting, slated to begin at 11 a.m. ET, was hosted on Computer Share but when people tried to access the event, many received error messages that the page couldn’t load, according to posts made on social media site X and CNBC’s own attempts to access the event. 

According to a YouTube stream from an unaffiliated user purporting to reproduce the feed, the annual meeting was brought to order at 11:48 am ET and was “immediately adjourned… due to technical difficulties that have prevented stockholders from accessing the meeting.” GameStop said it would provide an update “as soon as possible” as to when the event would be rescheduled, according to that feed.

GameStop couldn’t immediately be reached for comment.

When reached by phone, a customer service rep for Computer Share told CNBC that it was seeing a “mass amount” of issues from people trying to access the meeting.

The rep said Computer Share’s servers appeared to be unable to handle the amount of traffic the meeting had received and weren’t accustomed to the volume of accounts. They added that Computer Share’s tech team was working to solve the issue and advised interested parties to attempt to log in “every 5 to 10 minutes.” 

The debacle comes amid a new meme stock craze that surged when Keith Gill – known as Roaring Kitty online – resumed posting on his social accounts after going dark for more than three years. Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.

GameStop last traded up 6% Thursday in another volatile day. The stock gained as much as 10.7% earlier…

2024-06-13 12:27:32

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