GME - 'So Much Is Wrong:' Short-Seller Andrew Left Says 'Roaring Kitty' Trying To Take Advantage Of Retail Traders After Revealing Huge GameStop Position | Benzinga
After Keith Gill, also known as “Roaring Kitty,” created a flutter in the market on Monday by sending GameStop Corp. (NYSE:GME) shares higher by disclosing a huge stake in the video-game retailer, short seller Andrew Left raised doubts about whether it was someone else operating undercover.
Different Story: “So much is wrong,” with the way GameStop traded, said Left in an interview with Yahoo Finance. The first time, when meme stocks rallied three-and-a-half years ago, Roaring Kitty put in an actual thesis and made a video explaining why GameStop was undervalued, he said. The investment thesis nevertheless was wrong, he added.
The stock went higher and the rest is folklore, Left said.
Monday was “totally different,” he said. “He puts this monster position, no thesis…short-term options. I personally do not believe this is his own personal money.”
The size of the trade he disclosed was $150 million, Left noted. Assuming he made $200 million the first time around in 2021, after taxes he would have $100 million, he said. The short-seller expressed doubts regarding Gill putting all his net worth on the trade. He noted that reports on the web suggest he made $50 ...