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Meme Dilution? GameStop bull “Roaring Kitty” was briefly a billionaire on paper last night after the price of GME surged to nearly $70, but a stock split announcement this morning reversed his fortunes and those of retail traders following his bet! How much abuse will investors take until they turn to crypto?
Roaring Kitty tweeted out an image of a green Uno reverse card this weekend before subsequently disclosing his monstrous GME position made up of 5M GME shares and 120k contracts of $20 June 21, 2024, GME calls – igniting hopes for an aggressive short squeeze and a massive pump in price.
Yesterday, his YouTube account scheduled a livestream for today at 12 PM EST, which revealed little information other than a seemingly auspicious green candle and included a caption from The Babadook stating, “I’ll wager with you, I’ll make you a bet,” leading traders to speculate what his next moves would be.
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