In 2021, it took nine months for the GameStop trading frenzy to subside and regulators to understand this incredible move. Recently, meme stock favorite GameStop (NYSE: GME ) surged 490% in eight days, then proceeded to decline.
Lawyers say it is unlikely regulators could bring a case against the meme-stock influencer based on the facts currently known about his trading.
NEW YORK, NY / ACCESSWIRE / June 5, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Gamestop Corporation ("Gamestop" or "the Company") (NYSE:GME). Investors who purchased Gamestop securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/GME.
Roaring Kitty, a key figure in the 2022 meme stock craze, shocked the world again after revealing a position of five million shares of GameStop (NYSE: GME ) and 120,000 $20 GME call options expiring on June 21. Kitty, whose real name is Keith Gill, maintained the position as of the close on June 3 but did not provide a June 4 update.
The following research was contributed to by Christine Short, VP of Research at Wall Street Horizon. It's hard to paint the American consumer using one broad brush.
Keith Gill, alias Roaring Kitty, faces a probe by regulators in Massachusetts over his trades in GameStop (NYSE: GME ) stock. Gill, who led the 2021 meme stock rally, recently bought a big block of GameStop common and options.
The short seller said he has taken a smaller position this time: “It's a cult stock.”
It remains to be seen if prices settle around current levels, which are about 50% higher than before the latest frenzy started. GameStop jumped more than 100% at times earlier this week.
The latest resurgence of retail trading in GameStop follows major changes aimed at boosting the resilience and transparency of the market following the 2021 "meme stock" saga.
With GameStop (NYSE: GME) being a hot topic right now, with the renewed trading activity from Roaring Kitty, it is easy for traders to overlook other potential short squeeze targets that are experiencing sustainable gains, particularly in the recent sessions.
A report on Monday that online broker E*Trade may consider banning Keith Gill, the meme-stock influencer who ignited frenzied trading in shares of GameStop in 2021, has triggered a backlash on social media sites.
Monday's rally in GameStop (GME) and AMC Entertainment (AMC) faded Tuesday following a report that Keith Gill, one of the key figures behind the meme stock rallies, may be barred from online trading platform E*Trade.