GameStop surge triggers circuit breakers on Keith Gill YouTube stream announcement Shares of GameStopGME $65.80 (47.47%) have been halted for volatility after spiking 33% when Keith Gill’s Roaring Kitty YouTube account scheduled a livestream for Friday at noon ET. We haven’t heard Gill say anything about the fundamentals of the brick-and-mortar retailer since he testified before Congress in February 2021. However, his X and Reddit accounts have come alive recently after years in hibernation, with posts of memes and positions. DeepF**kingValue, Gill’s alias on Reddit, has not posted an update since Monday’s close. Open interest in the GameStop call options that expire on June 21 with a strike price of $20 – a contract where Gill appears to have a dominant position – have gone up, not down, since this stake was revealed on Sunday evening, which implies that he’s diamond hands-ing those derivatives.
A year ago GS got the direction and theme right: AI means the market is undervalued. But they underestimated the upward move of the market.
June 2023:
Goldman Sachs sees a good bit of upside to the S&P 500 (^GSPC) as new artificial intelligence technology takes hold inside of corporate America. "We assume that widespread AI adoption occurs in 10 years and lifts trend real GDP growth by 1.1 percentage point for 10 years. In this scenario, earnings per share in 20 years would be 11% greater than our current assumption and the S&P 500 fair value would be 9% higher than today, holding all else equal," strategist Ryan Hammond wrote in a new client note on Wednesday. The S&P 500 currently stands at 4,290 — Hammond's projection sees the benchmark index rising to around 4,719.
this poster looked firmly in the rear-view mirror and suggested stocks would fall. And that only he or she was smart enough to see what was happening. Whoops.
He'll be a billionaire tomorrow. Livestreaming at noon. I'll be tuning in.
Why would you listen?
GME now down 10% in the pre-open...the company will sell a truckfull of new shares and had a bad quarter.
How'd you like to be C-execs of this company? Trying to make wise decisions when your stock is a plaything of a crazed cat and his minions. Adds a layer of difficulty. But if this sale of shares works they'll be pleased I'm sure.
As for Keith Gill....probably not pleased when he woke up! From billionaire to big loser. You gamble, sometimes you win, sometimes you lose.
This post was edited 44 seconds after it was posted.
He'll be a billionaire tomorrow. Livestreaming at noon. I'll be tuning in.
Why would you listen?
To witness history of course. Not every day you get the chance to see someone become a billionaire live on stream. Hopefully it hits 70 by then. So far we have two halts to the upside 15 minutes into the day. Volume is 66m so far. The share offering could be over by noon
GME now down 10% in the pre-open...the company will sell a truckfull of new shares and had a bad quarter.
How'd you like to be C-execs of this company? Trying to make wise decisions when your stock is a plaything of a crazed cat and his minions. Adds a layer of difficulty. But if this sale of shares works they'll be pleased I'm sure.
As for Keith Gill....probably not pleased when he woke up! From billionaire to big loser. You gamble, sometimes you win, sometimes you lose.
Wish I wrote this, "little Beanie Baby Populism movement"
To witness history of course. Not every day you get the chance to see someone become a billionaire live on stream. Hopefully it hits 70 by then. So far we have two halts to the upside 15 minutes into the day. Volume is 66m so far. The share offering could be over by noon
Seems weird what people worship these days. No wonder this country is such a mess. So history is made by manipulating markets and doing it in a silly way. You are lost buddy, and you don’t even know it. Like most Americans. Quite a bit different than June 6, 1944.
This post was edited 3 minutes after it was posted.
To witness history of course. Not every day you get the chance to see someone become a billionaire live on stream. Hopefully it hits 70 by then. So far we have two halts to the upside 15 minutes into the day. Volume is 66m so far. The share offering could be over by noon
Seems weird what people worship these days. No wonder this country is such a mess. So history is made by manipulating markets and doing it in a silly way. You are lost buddy, and you don’t even know it. Like most Americans. Quite a bit different than June 6, 1944.
Worship is a strong word but yeah I admire the guy quite a bit. Same with Ryan Cohen. It takes a lot of balls (and lawyers) to do what they are doing. Most people haven't been following it for 3 and a half years like I have so I understand the prevailing confusion around what is happening ("He's manipulating the markets!!!"). I'm just in it to make money. I don't care about overthrowing wallstreet or whatever else is often attributed to GameStop holders, and I've made a lot of money off of it. GameStop paid off my student loans.
Seems weird what people worship these days. No wonder this country is such a mess. So history is made by manipulating markets and doing it in a silly way. You are lost buddy, and you don’t even know it. Like most Americans. Quite a bit different than June 6, 1944.
Worship is a strong word but yeah I admire the guy quite a bit. Same with Ryan Cohen. It takes a lot of balls (and lawyers) to do what they are doing. Most people haven't been following it for 3 and a half years like I have so I understand the prevailing confusion around what is happening ("He's manipulating the markets!!!"). I'm just in it to make money. I don't care about overthrowing wallstreet or whatever else is often attributed to GameStop holders, and I've made a lot of money off of it. GameStop paid off my student loans.
On second thought, on some level you are performing a service. That which is not, or should not be in capital markets will end. And those taking advantage of the flaws are rewarded.
Worship is a strong word but yeah I admire the guy quite a bit. Same with Ryan Cohen. It takes a lot of balls (and lawyers) to do what they are doing. Most people haven't been following it for 3 and a half years like I have so I understand the prevailing confusion around what is happening ("He's manipulating the markets!!!"). I'm just in it to make money. I don't care about overthrowing wallstreet or whatever else is often attributed to GameStop holders, and I've made a lot of money off of it. GameStop paid off my student loans.
On second thought, on some level you are performing a service. That which is not, or should not be in capital markets will end. And those taking advantage of the flaws are rewarded.
Those not taking advantage of the flaws are doing a disservice to their clients.
On second thought, on some level you are performing a service. That which is not, or should not be in capital markets will end. And those taking advantage of the flaws are rewarded.
Those not taking advantage of the flaws are doing a disservice to their clients.
I think the vast majority of investors are hurt by this type of market manipulation, both short and long term. I doubt very few of the actors are working for clients. In the past these type of activities often resulted in fines or jail sentences. Increasingly even politicians have joined the party
Those not taking advantage of the flaws are doing a disservice to their clients.
I think the vast majority of investors are hurt by this type of market manipulation, both short and long term. I doubt very few of the actors are working for clients. In the past these type of activities often resulted in fines or jail sentences. Increasingly even politicians have joined the party
Are we talking about taking advantage of flaws in the market or committing crimes? Two very different things. Taking advantage of flaws in the market/system is not a crime.
On second thought, on some level you are performing a service. That which is not, or should not be in capital markets will end. And those taking advantage of the flaws are rewarded.
Those not taking advantage of the flaws are doing a disservice to their clients.
this is an interesting question.
here's the problem as I see it:
the meme stock people play along in GME and whatnot.
Most get their heads handed to them
Then they complain 'see! the market is manipulated and rigged against the little guy!'
Even as the greatest wealth creation machine ever created, the broad stock market, churns ahead and hits all time high after all time high for those who do it right and don't try to get rich quick.
The meme stocks' failures do hurt people, not just in short term losses like today, but in fostering long term disillusionment with the right way to invest.
This post was edited 41 seconds after it was posted.
I think the vast majority of investors are hurt by this type of market manipulation, both short and long term. I doubt very few of the actors are working for clients. In the past these type of activities often resulted in fines or jail sentences. Increasingly even politicians have joined the party
Are we talking about taking advantage of flaws in the market or committing crimes? Two very different things. Taking advantage of flaws in the market/system is not a crime.
Ethical boundaries of what is the greater good for society have crossed that line a decade or more ago. I believe most of this will be realized after the fact, and if not the markets will remain a manipulated capital structure.
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