GME may explode one last time; here’s why

Roaring Kitty, Public Enemy #1?

The affair of GameStop (GME) and its emblematic promoter Roaring Kitty continues to attract the attention of investors and analysts, especially since it caused a new surprise explosion in the price yesterday. But beware, this may be the last time!

The more time that passes, the more doubts about the true motivation of the trader. E*Trade platform plans to delist Roaring Kitty after suspected price manipulation.

Source: Wall Street Journal X account

As reported by The Wall Street Journal, he acquired a significant amount of GME stock just before his latest social media post. The trader posted a massive position on his Reddit account, with up to 120,000 call options expiring on June 21. This currently represents $120 million in play!

Are you interested in the stock market? Here are 10 ChatGPT challenges to help you invest wisely.

His various contributions then sent GameStop’s stock price skyrocketing, allowing him to make a fortune… while destroying others. Monday’s surge caused short sellers to lose nearly $1 billion, according to data and analytics firm Ortex Technologies.

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Source: Roaring Kitty Reddit post

Less impact on GME price?

Despite the concerns and the unpleasant general impression that Roaring Kitty has calculated his move well, GME continues to surprise. The public seems to remain deaf to the warnings of possible manipulation and continues to act. So GameStop remains 21% higher at the close.

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Source: GME price according to Google Finance

On the cryptocurrency side, the trend seems to have already ended. Meme coin GME plunged 19% overnight, taking the rest of the coins in its category with it. An unexpected twist as experts announced their historic blast this week.

Moral of the story: When the GME stock market expands, so does awareness.

Disclaimer

Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.

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