WE ARE SO BACK.
From MarketWatch:
Roaring Kitty is back.
Keith Gill, whose bullish analysis of the video-game retailer GameStop on Reddit during the pandemic created a national phenomenon, made his first social media post on the X service in three years, in a cryptic post meant to show he was paying attention.
... Gill famously declared he was not a cat, in testimony to the House Financial Services Committee, which examined the wild volatility in the stock.
GameStop shares rose as high as $483 in the heady days of 2021, as chronicled in the movie Dumb Money, but have lost most of their meme allure. Yet the stock has been hurtling higher over the last month, rising nearly 70% from its April lows through Friday.
Trading on GameStop was halted 5 times Monday morning before 10:30 AM EST because the stock was up over 100%.
If you missed the epic saga involving GameStop stock in 2021, it was a huge scandal where small investors tried to invest in GameStop and the bigwigs on Wall Street shut it down because they were set to lose a lot of cash.
When trading halted, it allowed the mega-rich to protect their money while screwing the little guys out of the once-in-a-lifetime bet they had made.
Our founder Adam Ford made a video explaining it:
Imagine if you went to the Kentucky Derby and all the gazillionaires were there, like usual, and were laughing at the gimpy horse who was sure to lose. In fact, they were betting against that horse just for fun.
Now imagine that you and some of your friends decided to bet on that gimpy horse because you thought he had some spunk and you could stick it to the gazillionaires if he won.
Now imagine that horse was pulling ahead significantly but the officials decided to pause mid-race so the rich people could sort out their initial bets and let the horses rest before finishing.
That's what happened in 2021 and it's happening again!
(But at least Robinhood learned its lesson.)
Update: 10:42 A.M. EST - Trading has now been halted NINE times apparently and the stock is fluctuating.
Update: 4:49 P.M. EST - HOLD BOYS, HOLD!
Do you think the Stonk Lads can hold the line??
P.S. Now check out our latest video 👇
