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😺 The Kitty that Roars
Nils Beijeman
June 04, 2024
Good Morning! Meme stocks are on fire again! Feels like we are back in 2021 again! Today some more insights on:
The return of Roaring Kitty on Reddit
How the election of the first female president of Mexico influences the stock market
It is not easy to be in climate-tech, but the battle continues!
Hope you enjoy it!
x Nils
MEME STOCKS
Roaring Kitty let the markets rip again
What Happened?
Keith Gill, known as "Roaring Kitty" and "DeepFuckingValue", has resurfaced after a long absence on Reddit. On Sunday night, Gill posted a screenshot on Reddit's r/SuperStonk forum, revealing a substantial position in GameStop, the video game retailer that became the face of the meme stock craze. The screenshot showed Gill holding 5 million shares of GameStop, worth $115.7 million based on Friday's closing price, as well as 120,000 call options with a strike price of $20, set to expire on June 21.
BREAKING: Roaring Kitty has finally posted on Reddit after 3 years.
He has $65M worth of $GME Gamestop calls with a $21 strike expiring in 19 days…
He also has $115M of shares, making his total position close to $200M in Gamestop.
Oh. My. Goodness.
— amit (@amitisinvesting)
12:47 AM • Jun 3, 2024
Why It Matters?
Gill's return has reignited interest in meme stocks, with GameStop shares surging more than 30% in early trading on Monday. The impact was felt across other meme stocks as well, with AMC, Koss, and Express all posting gains. Gill's ability to influence the market with a single post has once again been demonstrated, raising questions about the potential for another meme stock rally.
What's Next?
The financial world is closely watching Gill's next move. Will he continue to post on social media, driving further interest in meme stocks? Or will he step back and observe the market's reaction from a distance? Gill's rise from an ordinary financial services employee to a folk hero has captured the imagination of many, and with a significant investment in GameStop, his actions are likely to have a substantial impact on the market. The future of the meme stock phenomenon remains uncertain, but Gill's return has undoubtedly added a new chapter to this ongoing saga.
Want to know more
→ Eat the Rich: The Game Stop Saga