GameStop’s stock price skyrocketed following the return of Roaring Kitty.
It’s been a whirlwind week for other meme stocks, including GameStop and AMC, with big swings followed by heavy selloffs and no concrete news. Instead, social media investor Roaring Kitty (also known as Keith Gill) has started posting on X after a three-year hiatus, spurring activity.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| GME | GameStop Co., Ltd. | November 31st | -8.46 | -21.39% |
| AMC | AMC Entertainment | 4.88 | -0.60 | -11.04% |
Extreme volatility has led to big losses for short sellers, those who are betting that stock prices will fall. GameStop shares are up more than 126% this week, and short selling losses have amounted to more than $1.8 billion this month alone, according to Ortex, which compiles short selling data. Losses begin at $39.70 per share.
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AMC stock is up 88% this week, with short losses exceeding $157 million, according to Ortex. For AMC, the loss starts at $5.73 per share. This week, the theater chain raised $250 million in a stock sale.
Still, Ortex noted that short positions based on free float, or the number of shares available for trading, have trended upwards in both stocks this week, “suggesting that short sellers are not unwinding their positions,” the company said. Stated. This suggests that the downside is more likely than the upside.
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Some people say that posts that hurt their heads are nonsense. Sunday’s first post is a cartoon depicting two gamers, one of whom appears to be leaning over, indicated by a red arrow.
Gill continues to post this week, including clips from Ferris Bueller’s Day Off, which was transformed into Breaking Bad, and a touching “Don’t Fight” from Peaky Blinders’ Cillian Murphy. ‘ scene, featuring ‘Tombstone’ starring Kurt Russell.
Many of the posts share themes of combat or preparing for something nefarious. For example, the famous scene in “The Town” where Ben Affleck tells Jeremy Renner’s accomplice: what is that. ”
“It’s actually kind of interesting how little we know about what’s going on in the market,” said After Hours founder and early investor in Reddit. CEO Kevin Hsu said this during an appearance on FOX Business’ “The Big Money Show” on Wednesday. . ”
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