DarylBin
2021-02-23
Gid
Reddit's 'Roaring Kitty' Doubled His Stake in GameStop
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In doing so, short-sellers would start covering their positions, leading to further increases in the share price.</p>\n<p>What Gill perhaps didn't realize was that a torrent of pent-up emotion would be unleashed in the process, and not only would GameStop be caught in a \"gamma squeeze,\" but that other heavily shorted stocks would get sucked into the vortex.</p>\n<p><b>AMC Entertainment</b> (NYSE:AMC),<b>Bed Bath & Beyond</b> (NASDAQ:BBBY), and <b>Nokia</b> (NYSE:NOK) were among the companies that saw their stock prices soar hundreds if not thousands of a percent higher in the course of just a few days.</p>\n<p>Gill was called to testify before Congress on his actions that precipitated the stock trading frenzy, along with the heads of hedge funds and the Robinhood online trading app. Gill testified essentially that he liked GameStop's stock, and he has apparently backed up that sentiment with money, purchasing an additional 50,000 shares.</p>\n<p>GameStop stock was up over 7% in midday trading Monday, which would have added approximately another $290,000 in value to Gill's position.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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In doing so, short-sellers would start covering their positions, leading to further increases in the share price.\nWhat Gill perhaps didn't realize was that a torrent of pent-up emotion would be unleashed in the process, and not only would GameStop be caught in a \"gamma squeeze,\" but that other heavily shorted stocks would get sucked into the vortex.\nAMC Entertainment (NYSE:AMC),Bed Bath & Beyond (NASDAQ:BBBY), and Nokia (NYSE:NOK) were among the companies that saw their stock prices soar hundreds if not thousands of a percent higher in the course of just a few days.\nGill was called to testify before Congress on his actions that precipitated the stock trading frenzy, along with the heads of hedge funds and the Robinhood online trading app. Gill testified essentially that he liked GameStop's stock, and he has apparently backed up that sentiment with money, purchasing an additional 50,000 shares.\nGameStop stock was up over 7% in midday trading Monday, which would have added approximately another $290,000 in value to Gill's position.","news_type":1},"isVote":1,"tweetType":1,"viewCount":128,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/369494048"}
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