'Roaring Kitty' sent Gamestop into the sky again – E24

'Roaring Kitty' sent Gamestop into the sky again – E24

Gamestop stock photo sets stock price on fire. – The manager warns that buying as an investor now is not exactly smart.

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In mid-May, Keith Gill, also known as Roaring Kitty, posted a photo of X indicating that he was back in full force after the Gamestop 2021 hype.

He was central to the forums that sent the stock soaring at the time.

This is the first hint from Jill about his stock market activity in three years, and the post sent Gamestop and other meme stocks soaring in the days that followed.

On Monday of this week, the share rose again by 21 percent. The increase this time came after Gill on Sunday evening shared a screenshot of what was supposedly his portfolio on social media.

The image showed a large amount of Gamestop stock and OptionsOptionsAn opportunity to buy a stock at a certain price..

According to CNBC, there is talk of a position of 5 million shares worth $115.7 million (about NOK 1.2 billion) based on Friday's closing price, as well as 120,000 call options with a strike price of $20 expiring on June 21. . No media outlet has yet succeeded in confirming the situation.

A new paradise for Gamestop.

The options are said to have been purchased for $5.68 each. On Friday, GameStop shares closed at $23.14.

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Although no media outlet has been able to verify the situation yet, Gil's social media post once again sparked the online forums that were central to the war over Gamestop ash in 2021. Gil, who also goes by the username Deep F ** ** The value on Reddit, was also forced to speak publicly in a hearing before the US judiciary after the massive rise in stocks.

– Not quite smart

Robert Ness, chief investment officer and director at Nordea, says it's remarkable that interest in meme stocks has revived again.

– People are at it again, and now there's new interest in these meme stocks. But it's hard to see these shares having any significant value, and it's also possible that Roaring Kitty will end up getting dumped. So buying as an investor now is not exactly smart.

Robert Ness, Investment Director and Director at Nordea.

He believes it is doubtful that the numbers provided by Roaring Kitty are real, and describes them as questionable.

– It's all a bit suspicious. The manager believes he owns Gamestop shares and options worth 1 billion kroner.

It also offers a warning to small savers.

– Apparently Gamestop is very popular among Norwegians as well. But he believes that the vast majority will gain nothing from it.

He had to buy back the shares

After the stunning rise in Gamestop shares in 2021, many large pension funds and professional managers ended up losing huge amounts of money after falling into a so-called “short squeeze.”

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Small contributors to Reddit forum r/wallstreetbets coordinated purchases of the stock, sending the price sharply higher. Many hedge funds shorted the stock and had to buy back the stock at high prices to cover their positions, causing the price to increase.

The story has attracted global attention, and a Netflix documentary has even been produced about what happened.

In late May, Gamestop raised $933 million by selling 45 million shares, after hitting a three-year low the previous month.
Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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