Roaring Kitty Live GameStop Stock Pump and Dump

hi friends welcome back so question for you is GameStop a scam was GameStop a scam and is it an illegal pump and dump that's the subject of today's video and this is actually a really important question um I'm just looking at the market now on the pre and GameStop's down 18% but that actually doesn't tell you the full story um if you followed the this the story for the last I guess month or so it started with Twitter remember the Roaring Kitty account I was like yo and actually didn't say anything it just put out a picture there of someone looking forward and then evidently the memer is like oh my God it must be awesome and then uh that Twitter accounts then started doing a bunch of Hollywood movie stuff and this kind of thing like basic Clips um and then it was just uh recently yesterday I believe we're roaring Kitty after three years of being off YouTube sort of scheduled a live stream and that's supposed to be happening a few a few hours from now and so then the stock sort up like crazy you can see right here it was up like 47% yesterday so up to $46 and then the pre-market today I believe it hit around 67 being the top now it's currently trading at 38 like what happened so basically it lost uh nearly half of where it was now I understand right now and this is you know volatility it's it's showing live right now is at 16% down um basically what's going on is that uh GameStop and here's the headline GameStop shares give up rally after retail reports 29 29% sales Decline and then they announced this is GameStop announced so they're going to be selling more shares um my understanding it's going to be like 75 million worth something of that nature and yet I guess who's buying this stuff still because we're watching it recover a bit I mean we're looking at this here um the problem is guys is that there's a couple issues so back in the whole GameStop thing was that 2021 like a couple years ago already um that's when we saw short interest at massive levels I think it was over 100% right and so we had all of this craziness and fervor while sitting at home during the pandemic nothing else to do except watch GameStop stock uh this particular time here is very different because we actually haven't seen Keith Gil come out on YouTube and yes he said hey um you know maybe I'm going to schedule something maybe I'll show my face Etc maybe he won't I I I think there's a possibility of that because if if if already you know if I'm say the SEC looking at this thing I'm like okay he makes the announcement a couple announcements it pumps up the stock and then suddenly you know GameStop stops dumping shares on you this is where it would be illegal is if if and I say if cuz I don't know but I'm just telling you this is what you would look for um if roring Kitty Keith Gill somehow there's any communicate with GameStop about you know selling shares Etc now if they are operating completely independent maybe he's in the free and clear right but the way that it looks now it just really feels like a pump a dump now to be fair to GameStop uh if your stock is soaring like crazy amounts um you're probably going to just right do an offering sell some shares raise some Capital right you're losing money these kind of things uh why not take that money while it's there and and right now the stock is really volatile must be um when I'm talking about said subject the stock is starting to recover I whoa it just went green and look look at that and this is a live recording how did it go quickly from 40 to $46 did you guys see that jump right there that's pretty funky you guys saw that right wait what wait something's going on there must be an announcement right now that this this is I I I I'm like kind of in shock right now myself talking about I don't know now it's back down to 177% minus you guys do you guys see this right now like we're watching it live here as I'm recording this thing I I I would be very very cautious I I haven't got full school I I'm not short I'm not long I just didn't touch the stuff at all uh it felt also Shady to me because we're talking about okay we're looking at a Twitter post now we're looking at a Reddit post now we're looking at maybe he's going to make an announcement um and and now it's jumping up like I mean you're watching it live here it's jumping up like crazy the thing that bothered me about this whole um roaring Kitty Keith Gill thing it reminded me of the um Elon Musk and the Dogecoin situation if you guys remember that you know they everyone was waiting for him to make some you know special announcement on S live that didn't come and then hence Dogecoin crash um there's actually a documentary about that uh it's called This is not Financial advice if you're interested in that topic you should check it out it's pretty interesting um but I want to um address situation here like these kind of you know situations happen a lot in the stock market it's it's buy the rumor sell the news right so we all know that Keith Gil is given some sort of thing live stream or whatever soone was like oh my God he's going say something crazy but you know the problem is if the stock has already gone up you know like 100% a day which I think it did um like what more could he possibly say and essentially GameStops just started dumping shares on retail um the other the problem I have with this and I know it makes a lot of retail investors sad I get it guys is in this situation that where we are now this is very different than it was say in 2021 on um you know I don't see how buying a share in a video game company is is fighting the man right I I don't I don't see it um if if you know you have a reason why you think it's fighting the man of why you know why this particular company is is fighting The Man by buying you know video game stock and sharing memes Etc like how you know how is that please please let me know um because I think if you want you know real change in terms of you know corruption and these kind of things you know you should go after uh more transparency this kind of stuff and and this is a good example of I'd like to see full transparency on these things right is there any communicate between Keith Gil and GameStop um what happened with that because again GameStop is selling yet more shares uh just hours before uh Keith Gill's live stream um if and and the other thing too is if I'm Keith Gil man I I'd be really cautious I think the SEC is watching his every move so I was really surprised if any of this thing had gone down um I just mentioned I mentioned to you before uh recently um with the the last video I made on this subject um if Keith Gil has been fully truthful on everything has been fully transparent shared all communication and it hasn't lied to anyone or um you know given out anything that that would be misleading or like that he's in the clear um but if there is some sort of you know uh sort of cooperation with GameStop or any of the major stakeholders to pump it D that's what it's looking like to me now to be fair though I do this I do see the stock recovering bit which is kind of funny and the issue is is like does that make everything better if if this thing only goes up um one of the things I I'll mention you guys and for for for those of you who are new to the market just be aware um if you ever mess with this kind of stuff use stop losses so you don't you know lose your shirt on this stuff um the problem though is often times stop losses do not work in the pre-market or the aftermarket and this is in my opinion I've always felt like this pre-market trading or or you know after hours trading is is a bit scammy um and I mean you just saw right there live like where the stock is jumping up like crazy I don't I I don't know what to make of that um Market's open in a couple hours from now look at this you guys see it again it just flipped green again like what what is this stuff right and it's going yeah it is so so volatile um I would say be very very careful out here don't trust anyone or anything that you see only I mean now it's green now we're now we're red now I mean is this going to go like this all morning this is crazy um if you're seeing this kind of stuff this price action on your screen screen guys please let me know we're watching this live and look at I mean you can see it for yourself it it was just green for like a little bit um I I I don't know what I don't know what to make it I'm I'm I'm not foam wood in this thing I'm happy I'm not I I'll be honest I was looking at I was like oh my God I wish I would have YOLO you know just the other day uh just yesterday looking at because I mean who doesn't want 47% gain I'm being honest with you um but then you know thinking about uh not having any fomo and now I see I would actually be down if I would have bought some yesterday I'm okay sitting this one out um the issue probably is as well when those things like flip up and down like that uh it's like you know done by robots and done so quickly maybe not necessarily get your order filled they may halt this thing on opening several times I wouldn't doubt that um but uh we'll see so we'll check in uh again later U maybe after market closed and see what happened with this thing but um as of now to me it really feels uh pretty shady the way the price accident is gone the way the the the sequence of events is is gone and um if I was Keith Gil my my personal opinion I probably wouldn't do live stream I'd be like staying away from the stuff because already everyone's eyes are on you so um I want to hear your thoughts on this one what do you guys think about this what do you think about this crazy price action that we've just been seeing I'm recording this live and uh I'll catch you in the next video

Channel: Chris Norlund

Views: 4,236

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Id: UcuYOdsiY1s

Length: 8min 46sec (526 seconds)

Published: Fri Jun 07 2024