GameStop's 'Roaring Kitty' Returns, Sends Shares Skyrocketing

12,898 Views | 132 Replies | Last: 2 days ago by Albatross Necklace
Ghost Mech
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9:01a, 5/13/24

Quote:


"My god it's him, he's really back. To give a hedgefund ***** a heart attack. To make a million apes insomniac. It's the guy... who's not a cat ;-)," wrote one user on Reddit's GameStop message board on Sunday evening following an X post from 'Roaring Kitty.'

Roaring Kitty, also known as Keith Gill, led an army of 'meme-traders' against hedge funds shorting GameStop (Melvin Capital) in 2021. He returned to X last night, posting a meme that suggested he's back after going silent on X since June 2021.

The X post has gone viral. It has been viewed more than 8.5 million times, with 14k retweets and 51k likes.


In markets, GameStop shares jumped 38% in premarket trading in New York to the $24 handle.
Just a matter of time...



Today's squeeze has anyone shorting the stock panicking. They are also left in disbelief that one tweet from a meme trader can spark so much volatility. This adds to the 57% monthly gains already recorded as of Friday's close.



Roaring Kitty's return comes as the short percentage of GameStop shares outstanding has surged, doubling from 25 million in late 2021 to 60 million as of days ago, equal to about 24% of the float short.


https://www.zerohedge.com/markets/gamestops-roaring-kitty-returns-sends-shares-skyrocketing-million-apes-go-insomniac
[url=https://www.zerohedge.com/markets/gamestops-roaring-kitty-returns-sends-shares-skyrocketing-million-apes-go-insomniac][/url]

Don't worry if you don't understand any of this......

Short story TLDR version = We are no longer a serious country. "investing" is just gambling at this point.
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MouthBQ98
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In reply to Ghost Mech • 9:04a, 5/13/24
AG
It is gambling for some. Others can manipulate the odds slightly in their favor or have non-public information giving them better odds of selecting the winners. Those types are not gambling so much as exploiting.
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TexAgs91
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9:05a, 5/13/24
AG
Game on
America the Beautiful
1776 - 2020
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Ghost Mech
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In reply to MouthBQ98 • 9:09a, 5/13/24
so its not gambling as much as it is criminal.



Probably time to look into how HFT algos can be programmed to "exploit" the market and social media.


BTW the naked shorts are in for a very bad day......
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Algorithmic Epiphany
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9:13a, 5/13/24
investing" is just gambling at this point.



Always was. Just more obvious now that the house always wins and the "right people" are able to cheat the games via regulatory capture or crony capitalism.
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BlueSmoke
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9:14a, 5/13/24
Investing is guessing, and guessing to an extent is what gambling is. Market manipulation is another thing entirely.
Nobody cares. Work Harder
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Faustus
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9:17a, 5/13/24
Looks like chicken tendies and cocaine are back on the menu boys.
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Sims
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In reply to Ghost Mech • 9:19a, 5/13/24
AG
Ghost Mech said:
BTW the naked shorts are in for a very bad day......
If that's their usual strategy, they signed up for lots of very bad days regardless of the target stock.
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Madman
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In reply to BlueSmoke • 9:19a, 5/13/24
AG
BlueSmoke said:
Investing is guessing, and guessing to an extent is what gambling is. Market manipulation is another thing entirely.

Where do you draw the line? Investing shows?
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agdoc2001
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9:19a, 5/13/24
AG
Apes strong together
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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Logos Stick
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9:23a, 5/13/24
some exchanges are halting trading on it.
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agdoc2001
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In reply to Logos Stick • 9:24a, 5/13/24
AG
Rigging the game as usual
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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Ghost Mech
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In reply to Madman • 9:26a, 5/13/24
I don't mind the marketing and social media promoting stocks, it's the ability to trade millions of shares in micro seconds thats the real problem....


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aezmvp
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In reply to Ghost Mech • 9:28a, 5/13/24
This.
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Buck Turgidson
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In reply to MouthBQ98 • 9:28a, 5/13/24
MouthBQ98 said:
It is gambling for some. Others can manipulate the odds slightly in their favor or have non-public information giving them better odds of selecting the winners. Those types are not gambling so much as exploiting.


Pelosis, for example.
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idAg09
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In reply to Logos Stick • 9:28a, 5/13/24
Logos Stick said:
some exchanges are halting trading on it.


Haven't been able to log into E*trade all morning. Same thing happened last time it's bs
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ttha_aggie_09
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In reply to agdoc2001 • 9:29a, 5/13/24
AG
agdoc2001 said:
Apes strong together
I laughed probably way too hard at this comment. Thank you!
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Ghost Mech
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9:34a, 5/13/24



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James Forsyth
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In reply to ttha_aggie_09 • 9:45a, 5/13/24
ttha_aggie_09 said:
agdoc2001 said:
Apes strong together
I laughed probably way too hard at this comment. Thank you!
Diamond hands.
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Madman
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In reply to Ghost Mech • 10:07a, 5/13/24
AG
Ghost Mech said:
I don't mind the marketing and social media promoting stocks, it's the ability to trade millions of shares in micro seconds thats the real problem....


Absolutely.

But more so the front running of their trades and using algos to make decisions on the front running.
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Aston04
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10:12a, 5/13/24
AG
I would be shocked if there is a high % shorting Gamestop again this time. Too much risk for this to happen again.

If not near as many people shorting- it won't have as much room to fly from meme buying.
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No Spin Ag
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In reply to Algorithmic Epiphany • 10:15a, 5/13/24
Algorithmic Epiphany said:
investing" is just gambling at this point.



Always was. Just more obvious now that the house always wins and the "right people" are able to cheat the games via regulatory capture or crony capitalism.


Needs a another star.
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Predmid
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10:16a, 5/13/24
AG
to the moon!

Diamond hands!
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donkeykick90
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10:45a, 5/13/24
AG
one of my favorite quotes from the all that frenzy
"we can stay retarted longer than you can stay solvent"

Gold. Jerry. Gold.
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Science Denier
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10:49a, 5/13/24
AG
So, a hedge fund can pool money together and sell shares they don't own,
but
A group of people can't actually buy a stock based on a recommendation.

Hope they put another hedge fund in bankruptcy.
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Ghost Mech
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In reply to donkeykick90 • 10:50a, 5/13/24
donkeykick90 said:
one of my favorite quotes from the all that frenzy
"we can stay retarted longer than you can stay solvent"

Gold. Jerry. Gold.



So about an hour or so.....
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donkeykick90
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In reply to Ghost Mech • 11:04a, 5/13/24
AG
Ghost Mech said:
donkeykick90 said:
one of my favorite quotes from the all that frenzy
"we can stay retarted longer than you can stay solvent"

Gold. Jerry. Gold.



So about an hour or so.....
Yep not surprised. Also trading has been halted on multiple platforms throughout the morning. Crazy times. I'd stay away from this.
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GenericAggie
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11:10a, 5/13/24
AG
Robinhood stopping trading should be illegal. Tell me why a platform can stop an open market from trading? If a regulatory body told them to do so, fine, but that in itself is also total bs.

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donkeykick90
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In reply to GenericAggie • 11:15a, 5/13/24
AG
GenericAggie said:
Robinhood stopping trading should be illegal. Tell me why a platform can stop an open market from trading? If a regulatory body told them to do so, fine, but that in itself is also total bs.

Robinhood makes their $$$ by payment for order flow. So whichever big hedge funds don't like the way a certain securities are moving, they just give ol Vlad a quick call to make things a bit more comfortable for Wall Street.
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Ghost Mech
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In reply to GenericAggie • 11:17a, 5/13/24
GenericAggie said:
Robinhood stopping trading should be illegal. Tell me why a platform can stop an open market from trading? If a regulatory body told them to do so, fine, but that in itself is also total bs.



Offering "partial shares of stock" should be too....yet here we are.
[url=https://robinhood.com/us/en/support/articles/fractional-shares/#][/url]
Quote:
https://robinhood.com/us/en/support/articles/fractional-shares/#

Our mission is to democratize finance for all, and offering fractional shares provides unique investing opportunities to people who might not otherwise be able to participate in the stock market.

With fractional shares, you can invest in certain stocks and ETFs that cost hundreds or thousands of dollars for a single share with as little as $1. This gives you the flexibility to invest as much as you want in the companies or ETFs you believe in, or get your toes wet without committing to an entire share.

Fractional shares can also help you manage risk more conveniently. Since you're not locked into purchasing full shares, you can diversify your portfolio with smaller amounts of money.

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Science Denier
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In reply to GenericAggie • 11:28a, 5/13/24
AG
GenericAggie said:
Robinhood stopping trading should be illegal. Tell me why a platform can stop an open market from trading? If a regulatory body told them to do so, fine, but that in itself is also total bs.
Funds can sell as many shares of stock they don't own, but individuals buying actual stock need to be halted.

LOL
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Ghost Mech
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10:05a, 5/15/24



One tweet from this account gets 20.5 million views and billions of dollars are made or lost in few short hours.



[url=https://twitter.com/KobeissiLetter/status/1790362696539361309][/url]



Interesting back and forth here. TDLR..... Video = this is why we are doing it, GG responds = what you're doing isn't what you think it is.....






At the end of the day, the only hedge funds that are going to blow up are the ones run by the incompetent, foolish, and/or greedy.



It is interesting to see how the sausage is made in markets though......

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BudFox7
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10:47a, 5/15/24
Anything whatsoever done by the public that isn't fully controlled by the elites will eradicated. Stuff like this, crypto, etc.
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BlueTaze
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In reply to Ghost Mech • 10:54a, 5/15/24
Actually as we saw from Citadel and Robinhood. They simply break the rules. Broker stop buying of the stock unless it's to "close a position" (aka short covering, longs selling to shorts). So they halt for longs to buy and keep open for shorts cover on long selling, to keep it from totally blowing up.

Just one more example of the market being rigged.

Anyone ever ask why significant long positions are required to be disclosed in SEC filings, but not short positions of the same size? It's to protect those with massive short positions and technically unlimited risk. The participants taking giant short positions control those in gov running SEC etc.
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techno-ag
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11:16a, 5/15/24
AG
No surprise GameStop is up. Colleges around the country are out for the summer.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
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