How retail traders are seeing Roaring Kitty's return

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OF INTERESTING MOVES TO WATCH. >> DOM, STICK AROUND, WILL YOU? WE NEED MORE FROM DOM. MORE ON ROARING KITTY'S RETURN. >>> LET'S GET A TAKE FROM TWO STREAMERS AND RETAIL TRADERS WHO HAVE BEEN FOLLOWING THIS CLOSELY WITH THEIR ONLINE COMMUNITIES. RYAN MANOSKAI, AKA STOCK MO, HAS OVER 600,000 SUBSCRIBERS ON YOUTUBE. AND JASON FRANK, STOCK GUY, HAS NEARLY 300,000 ON TWITCH. LET'S START WITH YOU, RYAN, IF I MIGHT. WHAT DO YOU MAKE OF WHAT TOOK PLACE TODAY, AND WHAT ROARING KITTY SAID AND WHAT'S YOUR THOUGHT ABOUT GAMESTOP? >> WELL, FIRST I WANT TO THANK BOTH OF YOU FOR ALLOWING ME BACK. LAST TIME WE HAD A CONVERSATION AND YOU BROUGHT UP ANGRY KITTY, AND I TOLD YOU NEEDED TO GET OUT THERE AND TRADEMARK THIS THING. WE GOT BACK TO THE COMMUNITY, THEY LOVED IT. THEY LOVED YOU GUYS. BUT ROARING KITTY, AS YOU CAME OUT AND SAID SOMETHING ABOUT MAYBE BORING KITTY, I DON'T KNOW WHAT EVERYONE WAS EXPECTING OUT THERE WHEN IT CAME TO THIS, BUT I DID ASK MY COMMUNITY, AND THEY WERE VERY UP FRONT. I SAID, WHY ARE YOU GET INTO THIS? AND BASICALLY IT WAS TWO -- TWO ANSWERS -- ONE, THEY WANT TO SEE RETAIL INRIDE IS TO THE PARTY -- INVITED TO THE PARTY. THEY WANT A PIECE OF THE AMERICAN DREAM. THEY'RE TIRED OF WORKING 9 TO 5, 40 HOURS A WEEK, MAYBE ONE WEEK OF VACATION A YEAR, AND SEEING PEOPLE MAKING MILLIONS AND BILLIONS ON WALL STREET. THEY SEE ROARING KITTY AS ONE OF US WHO HAS KNOCKED ON THE DOOR AND THEN KICKED THE DOOR IN. AND THEY SEE THIS AND WANT TO BE A PART OF IT. NOW, THE OTHER HALF IS ALL ABOUT MAKING MONEY. THEY SEE THIS AS A GREAT OPPORTUNITY TO SWING TRADE. THEY WANT TO BE A PART OF IT. AND THEY -- SOME OF THEM ARE. I CAN TELL YOU IN MY DISCORD, I HAD A COUPLE PEOPLE SAYING THEY'RE UP TENS OF THOUSANDS OF DOLLARS. IT'S PRETTY INTERESTING TO WATCH. BUT THEY'RE THE TWO LANES THAT I HAVE SEEN SO FAR. >> SO JASON, ISN'T WHAT RYAN JUST DESCRIBED IN PART JUST PURE SPECULATION? BASICALLY A FORM OF A GAMBLE? I MEAN, THERE ARE LOTS OF WAYS TO TAKE PART IN THE CAPITALIST MARKETS. AND YOU DON'T HAVE TO -- IT DOESN'T HAVE TO BE THROUGH FOLLOWING AN ONLINE PERSON OR A STOCK LIKE GAMESTOP. >> I MEAN, ABSOLUTELY. THE THING IS IS THAT AS HE HAD ALLUDED TO, A LOT OF PEOPLE ARE IN THIS LOOKING AT IT AS THOUGH THIS IS THEIR CHANCE TO SEE THE EVERYDAY WORKING MAN. YOU KNOW, THERE'S NEVER BEEN A TIME WHERE THE GAP BETWEEN THE ULTRA WEALTHY AND THE EVERYDAY WORKING MAN HAS EVER FELT SO WIDE IN THIS GENERATION AS IT DOES RIGHT NOW. AND A LOT OF PEOPLE LOOK BACK AT, YOU KNOW -- AT SOMETHING -- IF YOU THINK ABOUT SOMETHING LIKE "INVINCIBLE," A REGULAR, EVERYDAY GUY WHO MADE IT TO THE NFL, YOU FEEL LIKE HE'S ONE OF US, THERE WITH THE BIG BOYS AND REPRESENTS US. AND IT GIVES US HOPE. SOME PEOPLE ARE FEELING THAT. WHERE I WILL COUNTER WITH STOCK MO IS THAT I THINK FOR THE RETAIL TRADER THEY'RE A LITTLE BIT SMARTER THIS TIME AROUND OR A LITTLE BIT MORE PREPARED. I THINK THE FIRST GO ROUND WITH GAMESTOP IT WAS A NEW THING. THE SQUEEZE, THE PUMP, EVERYBODY WAS THERE, EVERYBODY WAS ON IT. WE SAW DILUTION NOT JUST FROM THE STOCK BUT FROM PEOPLE EITHER LOSING MONEY OR MOVING ONTO OTHER STOCKS OR MOVING DIFFERENT GROUPS. AND I THINK PEOPLE GOT BURNED, SOME PEOPLE, YOU KNOW, HELD -- LOOKED FOR EXITING THIS TIME, LOOKED FOR A REASON TO SELL AND WEREN'T LIKE THIS IS GOING TO A MILLION. SO I THINK YOU HAVE A SMARTER, MORE RESILIENT AND MORE PREPARED RETAIL TRADER THIS TIME AROUND. AND I THINK THAT'S SOMETHING THAT A LOT OF PEOPLE WENT INTO THIS LIVE STREAM LOOKING AT. I, THERE -- I THINK THERE WERE EXPECTATIONS THAT HE WAS GOING TO POP THE STOCK OR LIQUIDATE. I THINK OTHER PEOPLE REALIZED THIS IS JUST HIM COMING OUT. FOR ME I THINK IT WAS JUST A HEY, THIS IS ME, THIS IS REALLY MY
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Channel: CNBC Television
Views: 15,420
Rating: undefined out of 5
Keywords: CNBC, Business, News, finance stock, stock market, news channel, news station, breaking news, us news, world news, cable, cable news, finance news, money, money tips, financial news, stock market news, stocks
Id: TvccD1ajgpY
Channel Id: undefined
Length: 3min 59sec (239 seconds)
Published: Fri Jun 07 2024
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