GameStop shares gain after meme stock influencer reveals $116 million bet

[Riberet19]

hares of GameStop climbed 21% on Monday as the renewed frenzy around meme stocks shows little sign of abating.

The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill — also known as “Roaring Kitty” — revealed that he had bought nearly $116 million worth of the stock. GameStop’s stock surged as much as 75% earlier in the day before parings its gains

https://edition.cnn.com/2024/06/03/...ock-soars-meme-stock-roaring-kitty/index.html

 

[saoussen57651]

This means that Game Stop is involved in meme coins investment that seems as a good opportunity to share or to invest in it if I am not wrong about this guess.

 

[Riberet19]

This means that Game Stop is involved in meme coins investment that seems as a good opportunity to share or to invest in it if I am not wrong about this guess.

Nothing to do with meme coins, it's a meme stock.

it is a meme stock because investors in this stock agree on forums such as Reddit and others and do not invest because of its fundamental value.

 

[Dan The Man]

I know I am a bit late to this thread but the guy already made his money. You only have to get rich once. He's playing a dangerous game betting on a stock that in essence has zero value.

 

[Riberet19]

I know I am a bit late to this thread but the guy already made his money. You only have to get rich once. He's playing a dangerous game betting on a stock that in essence has zero value.

You are absolutely right, Gamestop today is still very far from its competitors, despite the immense injection of capital that has been given to the company in recent years, it has no intrinsic value.

 

[gwolf666]

This was completely crazy, in fact many of those who began to recommend buying Gamestop shares became millionaires thanks to this, in fact if you search on the internet there are several documentaries about this haha to think that it all started on Reddit, those from Wall Street made fun of them and invested in the fact that the price was going to fall but in the end the "freaky nerds" of reddit ended up being right, the price went up and the "nerds" of reddit who did not have a single idea about finances ended up making millions, Complete madness, on the other hand, those on Wall Street lost a lot of money
In fact, if you check the historical price history here you will see how it had a very abrupt price rise, going from being worth $2 to $50 at its historical maximum. Imagine how much money those who bought Gamestop shares at $2 and sold at $50 earned, a Complete and total madness, it was simply something historic