Shares of Gamestop (GME) surged today as popular trader ‘Roaring Kitty’, who was a driving force behind the meme stock craze earlier this year, posted again on social media. The stock jumped after ‘Roaring Kitty’ shared his thoughts, causing a buzz in the Market. Stay tuned for more updates on this developing story.
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A man walks past a GameStop store on 6th Avenue in New York as GameStop shares surge over 37% in premarket trading after the return of “Roaring Kitty,” the key figure in the 2021 short squeeze. Keith Gill, also known as DeepF——Value on Reddit, led a group of day traders in a frenzy over GameStop stock, causing massive losses for hedge fund Melvin Capital. This led to regulatory scrutiny and even a class-action lawsuit against Robinhood for limiting trading.
The historic events surrounding GameStop trading inspired a 2023 movie called “Dumb Money.” Despite hitting an all-time high in early 2021 and announcing a stock split in 2022, GameStop’s recent earnings report painted a grim picture for the company. Job cuts and declining revenue signal tough times ahead as competition from e-commerce platforms intensifies.
The stock has shown some signs of recovery, gaining 57% in May and closing at $17.46. As the saga continues, the spotlight remains on GameStop and its volatile journey in the stock Market.
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1. How did Roaring Kitty drive the meme craze with GME jumps?
– Roaring Kitty’s posts on social media and forums encouraged other traders to buy GME stock, causing its price to soar.
2. Why is GME stock known for making big jumps in price?
– GME stock has been heavily shorted by investors, leading to volatility and large price swings as traders buy and sell.
3. Can I still make money trading GME after the initial craze?
– While GME may still experience jumps in price, it’s important to be cautious as the stock remains highly volatile and subject to Market manipulation.
4. Should I follow Roaring Kitty’s investment advice?
– It’s important to do your own research and consider the risks before following any individual’s investment advice, including Roaring Kitty’s.
5. What should I do if I experience losses from trading GME?
– It’s important to have a plan in place for managing risks and losses, including setting stop-loss orders and diversifying your investments to protect your capital.
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Win Up To 93% Of Your Trades With The World’s #1 Most Profitable Trading Indicators
