GME - 'No Clear Deception:' Chamath Palihapitiya Doesn't Think Roaring Kitty Rigged GameStop Stock As SEC Rules Don't Address Influencers' 'Outsized Role' | Benzinga
A series of actions by Keith Gill, aka Roaring Kitty, helped renew the smoldering meme rally last week and many market participants cried foul over his actions. SPAC sponsor and venture capitalist Chamath Palihapitiya on Sunday weighed in on the development in a substack post.
What Happened: Gill posted on social media for the first time in about three years in mid-May and then stirred excitement by posting a screengrab of his trading account in the r/SuperStonk Reddit forum, which revealed a huge GameStop Corp. (NYSE:GME) stake, comprising stocks, and call options.
These actions have created volatility in the shares of the videogame retailer. From $17.46 ahead of Gill’s first post since early 2021, GameStop rose to a high of $64.82 on May 14 before losing most of its gains. The stock ...