GME - Market Manipulation Or Meme-Stock Mastery? 'Roaring Kitty' Rakes In $262 Million GameStop Stake | Benzinga
Keith Gill, the trading influencer popularly known as “Roaring Kitty,” has accumulated a $262 million stake in GameStop Corp. (NYSE:GME), leading to discussions about market manipulation in the meme-stock era.
What Happened: Gill’s substantial stake in GameStop Corp and its call options reached over $550 million on June 6. Despite his acquisition of more stock, the value of his holdings has decreased due to a slump in the company’s shares.
As the stock’s value remains relatively stable, apprehensions are mounting among Wall Street and retail traders. The 2021 GameStop rally, which challenged short-selling, has led to inquiries about what constitutes market manipulation in the current meme-stock era, reported Bloomberg.
Commenting on the development, Steve Sosnick, chief strategist at Interactive Brokers, said, "The original meme stock craze was us versus them, with ‘them' being the ...