After jumping 74% in a day, is the GME share price primed to rally further?
Hey guys! 👋 let's talk about that crazy move higher. It was like a roller coaster ride, wasn't it? 🎢 Well, there are a few reasons behind that. 😉😉😉
Stranger than fiction
Remember that retail trader, Keith Gill, also known as the legendary "Roaring Kitty"? Well, during the pandemic's meme stock craze, he was a force to be reckoned with, especially when it came to GameStop. Those days, the stock was going up and down like a roller coaster, and retail investors were all over it. 🎢
But here's the catch: GameStop as a business wasn't doing great. In fact, institutional investors were even betting against it! But still, during the pandemic, the stock soared as these investors tried to limit their losses.
Now, let's get to the juicy part! Recently, after years of silence on his X account, Roaring Kitty posted a mysterious picture of a man leaning forward in a chair. 🤔 And that's it! Just a picture! But guess what? It got the retail investors all hyped up again, thinking he might be interested in GameStop once more.
And the result? The stock shot up 74% in a day! 🚀 At some points, it even went over 100%! Can you believe it? Thanks to that, GameStop is now up 47% over the past year! $GameStop(GME.US$
But here's the catch: GameStop as a business wasn't doing great. In fact, institutional investors were even betting against it! But still, during the pandemic, the stock soared as these investors tried to limit their losses.
Now, let's get to the juicy part! Recently, after years of silence on his X account, Roaring Kitty posted a mysterious picture of a man leaning forward in a chair. 🤔 And that's it! Just a picture! But guess what? It got the retail investors all hyped up again, thinking he might be interested in GameStop once more.
And the result? The stock shot up 74% in a day! 🚀 At some points, it even went over 100%! Can you believe it? Thanks to that, GameStop is now up 47% over the past year! $GameStop(GME.US$
The next act
🚀 Ready for liftoff? I'm predicting the stock might take another leap in the coming days! Those who missed the rocketship yesterday might be tempted to buy in, but I'm not sure it's a sure bet. FOMO is real, but remember, it's not a strategy! 🤔
But here's the catch: once the dust settles, I don't see this rally lasting forever. History tells us that when speculators cash out, the share price tends to drop. In the long run, the price should reflect the business's true worth.
But here's the catch: once the dust settles, I don't see this rally lasting forever. History tells us that when speculators cash out, the share price tends to drop. In the long run, the price should reflect the business's true worth.
So, here's my question for you: what do you think will happen next?
Will GameStop continue to soar on its own?
Let me know in the comments below! 🍿👇
Will GameStop continue to soar on its own?
Let me know in the comments below! 🍿👇
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