Gamestonk II - Dumb Money is Back
AI summary of the linked articleRoaring Kitty's Keith Gill reportedly sparked a renewed GameStop meme frenzy in 2024 after a three-year break, with GME rising over 119% and crossing $25 per share since late April. The article says the rally briefly made GameStop a $10 billion company, trading was halted nine times in just over 90 minutes on Monday morning, and about $1 billion was lost by short sellers. The author argues that the revived mania could spread to crypto, which it presents as a 24/7 alternative to traditional exchanges, while the New York Stock Exchange polls participants on around-the-clock trading. |
1 comment  timSubmitter The galactic re-awakening of Roaring Kitty, aka Keith Gill, the internet's beloved degenerate gambler who kickstarted 2021's memestock mania, sent GME rocketing over 119%, crossing $25 per share and adding $6 billion in market cap since late April. This couldn't be further from the truth. When I was sick a few months ago, Youtube actually recommended me the video Gill went over his analysis of the Gamestop trade that ended up fueling the first run-up: https://www.youtube.com/watch?v=GZTr1-Gp74U It's a 1h video where Gill goes into his meticulous analysis of Gamestop as an undervalued asset and where he essentially finds out that the hedge funds hadn't done their homework and that the numbers are looking much better than what the common narrative suggests (it suggested that the company would go bankrupt). So, to call him a "degenerate gambler" and to call it "dumb" money is a bit of a stretch. This guy knows WAY more about investing than me and I actually learned a ton just by listening to his videos. Wait until retail finds out about the real Meme casino. Unlike centralized stock exchanges, the crypto casino stays open 24/7 and market makers can't just hit the circuit breaker whenever the peasants start winning. I'm sorry, this is just straight up cope |