GME May 2024 15.500 call
- Yahoo Finance Video
E-Trade's potential 'Roaring Kitty' ban enters 'gray areas'
The meme trade influencer known as "Roaring Kitty" faces the possibility of a ban from the stock trading platform E-Trade. This comes after alleged market manipulation by the trader, triggered by a social media post in which he unveiled his position in GameStop (GME), creating a massive rally in the company's shares. Joining Catalysts to dissect the details is AnnaMaria Andriotis, the Wall Street Journal reporter who broke the story. Andriotis sheds light on the timeline of events, noting that the speculation around market manipulation began on May 12 when Roaring Kitty first posted a meme to X, formerly Twitter, reigniting the meme trade. Subsequent investigations revealed that "he had made a large purchase of GameStop options before that tweet had gone out." However, Andriotis notes there are broader implications for E-Trade if the platform decides to ban Keith Gill. Such a move could result in the loss of a substantial portion of its customer base. "This isn't an easy calculation that is playing out internally, and it does touch on some gray areas. And it's an area... that regulators themselves are looking at," Andriotis told Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
- Yahoo Finance Video
GameStop rally: What the options market saw coming
GameStop (GME) shares surged as high as 75% after Monday's market open before calming ahead of the closing bell. What exactly brought on this second rally in the past month for the meme stock? Meme trader "Roaring Kitty" — the username of Keith Gill on X (formerly Twitter) — shared a screenshot of his investment portfolio revealing $175 million in GameStop shares and options trades. The legitimacy of this photo has yet to be verified. Susquehanna Co-Head of Derivative Strategy Chris Murphy joins Yahoo Finance's Market Domination to talk about whether investors could have anticipated this jump in GameStop stock, including from options traders. "There's no real story, there's no real event. You can kind of see that information out there. Obviously... we weren't expecting it to be a specific person, but you can see these trades. It's a listed market every option trade that trades is accounted for and you can see it after the fact," Murphy says. "That's why this, trading options is challenging. But this information was out there in the world, just not who it was." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Is 'Roaring Kitty' taking advantage of retail traders?
GameStop (GME) shares are climbing after "Roaring Kitty," best known for the 2021 short squeeze, posted a screenshot to Reddit showing a nearly $175 million position in the meme stock. Citron Research Founder Andrew Left joins Market Domination Overtime to discuss why he is re-shorting the stock after being burned by the 2021 rally. Left says that today's rally is "totally different" from what happened in 2021, adding, "I personally do not believe this is his own personal money." He explains that Roaring Kitty's position is an exorbitant amount of money, and he doubts he put his entire net worth on the trade. "What he's doing right now is trying to take advantage of the retail traders, the same people that he was supposed to represent three and a half years ago," Left says, noting that he decided to short the stock because of its short interest and its capital structure changing from 2021. He explains, "I just hope the retail investors realize right now that this is not what we saw three and a half years ago." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
