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GameStop stock soars after 'Roaring Kitty' reveals $175M bet

finance.yahoo.com

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Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#11

Post by qeternity »

paulpauper wrote: post #2

I am confused. I thought he had only $40 million after the stock peaked in 2021. Where did he get these extra funds, especially given that GameStop had fallen 80% from the 2021 peak? https://markets.businessinsider.com/news/stocks/gamestop-sto... Fast-forward to 2024 and he claims a net worth of $200 million at the time of the screenshot when GameStop was at $22 on Sunday. So presumably he would be worth $1 billion i…

> as he used options.

I don't know the exact positions he held but I am reasonably sure he had some long dated stuff. Not sure whether it was long enough to qualify for LTCG, but simply using options does not preclude LTCG.

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#12

Post by toast0 »

1oooqooq wrote: post #9

economists, educate me please. people buy shares, the company sells shares, pay the ceo and skeleton staff, and then what? how anyone make money on that besides pump and dump?

Brokerages, exchanges, and market makers make money when customers are trading. Doesn't make a lot of difference what they're trading or at what price. Although, when there's a huge amount of volatility, there's maybe more risk and at least more collateral required. (Although the recent change to T+1 settlement will likely reduce that)

It's valuable for the company to sell shares when the price is high. If they don't have anything specific to do with the money, they can always do stock buy backs when the price comes down to earth.

For unrelated shareholders, yeah, it'a pretty much pump and dump, but if the company dumps while the stock is pumped, that helps your book value per share, right?

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#14

Post by thorncorona »

1oooqooq wrote: post #9

economists, educate me please. people buy shares, the company sells shares, pay the ceo and skeleton staff, and then what? how anyone make money on that besides pump and dump?

we're trended towards being able to monetize attention and popularity in the last couple years.

memestocks are just a manifestation of this. you buy because you have faith in x. you sell because you lost faith.

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#15

Post by hooloovoo_zoo »

tempaway355751 wrote: post #6
JSDevOps wrote: post #5

How on earth isn’t this blatant stock manipulation at this point.

He's just posting his position, didn't say a word, its just a screenshot of a spreadsheet. The surge is happening because now everyone knows that (amazingly) he didn't cash out 4 years ago and instead increased his position x5

Not accurate. He bought a bunch of calls and then started posting as reported by wsj. https://www.wsj.com/finance/regulation/e-trade-considers-kic...

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#16

Post by echoangle »

tempaway355751 wrote: post #6
JSDevOps wrote: post #5

How on earth isn’t this blatant stock manipulation at this point.

He's just posting his position, didn't say a word, its just a screenshot of a spreadsheet. The surge is happening because now everyone knows that (amazingly) he didn't cash out 4 years ago and instead increased his position x5

How does not saying a word mean it’s not market manipulation? That’s not a requirement, you can manipulate the market just fine just posting images if you’re the right person

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#19

Post by fragmede »

more_corn wrote: post #18
speedylight wrote: post #17

Fuck my LIfe this is the second time I missed out on a GME pump and dump.

Well at least you also missed the dump part.

Right. it's easy to see the upside and think you missed out, but you also gotta realize you could've been the counterparty to the action going on.

never invest from a place of fomo.

Re: GameStop stock soars after 'Roaring Kitty' reveals $175M bet

#20

Post by mmh0000 »

speedylight wrote: post #17

Fuck my LIfe this is the second time I missed out on a GME pump and dump.

I believe you haven't missed anything. The research on GME going up by thousands of dollars is compelling. You can wade through the cesspool that is the r/GME subreddit and read it all. I've come away believing the apes are right.

As of now, GME has 2 billion USD cash on hand. They wouldn't go bankrupt for over 350 months even if they didn't make a single penny. And they are making pennies! Lots of them! And they're making smart moves to make more pennies.

Throw a "little" (what you're happy with losing) money at GME, and don't touch it.

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