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This might be surreal. To get a full understanding, read thewrite up at bottom… Otherwise, this voice note will get you up to speed and give a good overview of waht is at stake
GoldFix GME Roaring Kitty Path voice note
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Current Events
As of 2024, GameStop is deep into its transformation. The company is pivoting to a digital-first retailer, scaling down its physical stores, and ramping up its e-commerce infrastructure. Ryan Cohen has taken a more active role in guiding the company's strategic direction.
GameStop's stock remains a darling among retail investors, though it has stabilized compared to the volatility of early 2021. The company is also venturing into blockchain and NFT (non-fungible token) spaces, aiming to harness new technologies for growth.
Market sentiment towards GME is mixed. Some investors are bullish, confident in the company's turnaround potential. Others are cautious, wary of the challenges inherent in transforming a traditional retail business in a competitive digital marketplace. The company's financial performance will be a crucial barometer for the success of its new strategy.
Back Story:
The saga of GameStop (GME) and Roaring Kitty, alias Keith Gill, catapulted into the financial limelight in late 2020 and early 2021. Keith Gill, a financial analyst turned amateur investor, emerged on social media platforms like Reddit and YouTube under the moniker "Roaring Kitty." His detailed analysis and bullish stance on GameStop, a beleaguered video game retailer, drew significant attention. Gill's thesis rested on the company's turnaround potential, its undervalued stock, and the substantial short interest from institutional investors betting against it.
Gill's posts on Reddit's r/WallStreetBets ignited a frenzy among retail investors. Inspired by his analysis, a swarm of small investors began buying GME shares and options. This collective action triggered a short squeeze, driving GME's stock price from around $20 to a staggering $483 in January 2021. The squeeze inflicted severe losses on short sellers and delivered windfall gains to retail investors.
After the First Round.. Lawyers
The explosive surge in GME's stock price prompted regulatory scrutiny. The SEC and other regulatory bodies launched investigations into the trading activities surrounding GME. In February 2021, Keith Gill testified before the U.S. House Financial Services Committee, defending his investment approach and denying allegations of market manipulation.
Throughout 2021 and 2022, GME's stock experienced extreme volatility. GameStop capitalized on the attention and influx of capital to reinvent its business strategy. The company onboarded new leadership, including Chewy co-founder Ryan Cohen, to spearhead its transition towards e-commerce and digital gaming. Despite these strategic shifts, GME's stock price remained volatile, driven by market speculation and continued retail investor interest.
In 2023, legal battles continued. Keith Gill faced lawsuits accusing him of market manipulation. Gill maintained that his actions were based on genuine investment beliefs, not on any intent to deceive or manipulate the market. These lawsuits highlighted the regulatory challenges in managing social media-driven market movements.
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We need a silver kitty asap to punch them where it hurts!!!!
This will be exciting 😁