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☆ Tesla is acting like a meme stock right now, says billionaire 'Bond King' Bill Gross
▼ + stars: | 2024-07-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Tesla is acting like a meme stock right now, according to legendary bond investor Bill Gross. AdvertisementTesla is acting like a meme stock right now, according to legendary bond manager Bill Gross. In a post to X on Tuesday, Gross said of the electric vehicle company:Tesla acting like a meme stock — sagging fundamentals, straight up price action. But then there seems to be a new meme stock every other day now. — Bill Gross (@real_bill_gross) July 9, 2024The comments from Gross come amid an ongoing surge in Tesla stock.

Persons: Tesla, Bill Gross, Gross, —, Zapp, — Bill Gross, Keith Gill Organizations: Service, GameStop, Chewy

☆ Roaring Kitty post of a dog sparks brief rally in shares of Chewy and Petco
▼ + stars: | 2024-06-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Chewy and Petco shares spiked briefly on Thursday after Keith Gill posted a dog on his X account. Chewy shares were up as much as 28%, while Petco shares surged as much as 13%. The petcare stocks spiked around 1:00 p.m. as Gill posted the image. Shares soared again when the famous retail trader posted screenshots on his Reddit account, which revealed he owned 5 million shares of GameStop stock. He's since nearly doubled his stake to 9 million shares and is among the top holders of the video game retailer's stock.

Persons: Keith Gill, —, Gill, Chewy, Petco Organizations: Service, Petco, Wellness Company, GameStop

The firm upgraded the ingredients maker to buy from neutral but lowered its price target to $48 per share from $50. "Though these items might not help earnings until 2025, we believe visibility surrounding them could improve in coming months and send the share price higher," he added. Lovallo has a $198 price target for Lennar, reflecting 30.1% in upside. Analyst Raimo Lenschow upgraded the marketing automation stock to overweight from equal weight and upped his price target by $4 to $29. Singlehurst raised her price target to $58 from $54.20, but the new forecast implies nearly 2% downside from Tuesday's close.

Persons: Goldman Sachs, Thomas Palmer, — Brian Evans, Edward Jones, Logan Purk, — Jesse Pound, John Lovallo, Lovallo, — Alex Harring, Oppenheimer, Colin Rusch, Rusch, Alex Bradley, Alex Harring, Raimo Lenschow, Lenschow, Wells, Steven Cahall, Wedbush, Michael Pachter, Pachter, Keith Gill, Piper Sandler, Valvoline Piper Sandler, Peter Keith, Keith, VVV's algo, hasn't, Will Gaertner, Gaertner, Morgan Stanley, Mark Murphy, Keith Weiss, Brent Bracelin, Louise Singlehurst, Singlehurst, Fred Imbert Organizations: CNBC, Analysts, Citi, Diamond Green Diesel, AMD, Devices, Nvidia, UBS, Lennar, KB, Barclays, Wells Fargo, Paramount, GameStop, Products, LSEG, Google, AI, JPMorgan, Oracle Locations: California, Tuesday's, VVV, reaccelerate, ORCL

☆ Options Action: What’s going on with RK’s GME options ahead of expiration
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptions Action: What’s going on with RK’s GME options ahead of expirationDavid Boole, Baycrest, joins 'Fast Money' to discuss the options action with Gamestop.

Persons: David Boole, Baycrest Organizations: RK’s, Gamestop

☆ An inside look at the weekend the GameStop frenzy began on WallStreetBets
▼ + stars: | 2024-06-10 | by ( Nathaniel Popper | ) www.businessinsider.com time to read: +19 min

Like Tesla and Palantir, GameStop was a popular stock to short among hedge funds, though GameStop took it to a whole new level. "That's how I feel about these GME posts that are using the 'P' and get in so we can cause an 'S' words that are no-nos." That was enough to make WallStreetBets the seventh-largest holder of GameStop stock, ahead of some of the big Wall Street investment firms that had shown interest in the stock. AdvertisementOn WallStreetBets, Alzmann shared the growing evidence that Cohen was indeed planning to take a more active role at GameStop. AdvertisementBut when Cramer dug into the conversation happening around GameStop on WallStreetBets, he saw that something new and more sophisticated was happening.

Persons: GameStop, Jaime Rogozinski, Tesla, Jordan Zazzara, I've, Zazzara, Ryan Cohen, Andrew Left, ahem Citron, PLTR, here's, Citron, We're, WallStreetBets, Uberkikz11, I'm, Ryder, Rod Alzmann, Bolt, Alzmann, Kitty, Roaring Kitty, StockTwits, lockdowns, Nathaniel Popper, Harper Collins, Cohen, Jim Cramer, manipulatively, Cramer, who've, It's Organizations: GameStop, Sony, Business, Twitter, Gamestop, Virgin Galactic, Blockbuster, Netflix, Citron Research, Research, Vanguard, YouTube, Roaring, Roaring Kitty, Owls, WSB, shits, GME Owls, CNBC, Virgin, Street Books, HarperCollins Publishers, Misfits Locations: sweatpants, Tampa , Florida

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ Here are the 5 things we’re most focused on in the stock market this busy week
▼ + stars: | 2024-06-08 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

All three major averages closed higher for the week, shrugging off Friday's hotter than expected jobs report. No portfolio names reported this week, but we will hear from one last stock next week. Last quarterly Club stock report : Broadcom reports on Wednesday after the closing bell. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Nonfarm, Dow Jones, FactSet, We'll, we've, Jerome Powell, Siri, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Dow Jones Industrial, Nasdaq, Dow, Labor Department, Federal Reserve, Technology, Utilities, PPI, Broadcom, VMWare, Apple's, Sports, GameStop, Oracle, Casey's, Buster's Entertainment, Oxford Industries, Signet Jewelers, SIG, Jim Cramer's Charitable, CNBC, Apple, Apple Worldwide Locations: FactSet, Cupertino , California

☆ GameStop soars 41% after Roaring Kitty schedules a YouTube live session for this week
▼ + stars: | 2024-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The stock soared after Roaring Kitty scheduled a livestream on his YouTube channel for this week. The upcoming livestream is titled "Roaring Kitty Live Stream - June 7, 2024" and already has 12,500 YouTubers "waiting" for the stream to start. Gill's The Roaring Kitty YouTube account gained tens of thousands of subscribers on Thursday, climbing to 711,000. AdvertisementLast month, Gill's Roaring Kitty X account posted a slew of memes and sparked a massive rally in meme-stocks, led by shares of GameStop. Gill revealed he owns 5 million shares of GameStop worth more than $200 million based on Thursday afternoon prices.

Persons: Roaring Kitty, Keith Gill's, —, Jmoa, Adam Smith, Kitty, Gill, Reddit Organizations: GameStop, Roaring, YouTube, Service, Keith Gill's YouTube, Business Locations: YOLO

☆ Keith Gill scored a one-day gain of $79 million after disclosing his GameStop stake on Reddit
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Keith Gill scored a $79 million one-day gain on his GameStop bet on Monday. The massive gains were initially sparked by Gill disclosing his bet on GameStop worth more than $100 million. Monday's trading action in GameStop minted Gill a $33.6 million one-day profit on his stock position, and a $54.3 million gain on his call option stake, bringing his one-day gain to a whopping $79 million. Including total cash of $29.3 million, Gill has a total account value of $289.3 million, and he is also now the fifth largest shareholder in GameStop. The Reddit post came a couple weeks after Gill's "Roaring Kitty" Twitter account posted a deluge of memes and sparked another rally in the meme-stock.

Persons: Keith Gill, Gill, —, That's, Gill isn't Organizations: GameStop, Service, Trade Locations: YOLO, Reddit

☆ How Roaring Kitty's wealth went from $53,000 to nearly $300 million — and could one day top $1 billion
▼ + stars: | 2024-06-04 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Pavlo Gonchar | Lightrocket | Getty ImagesAlmost five years ago, GameStop champion Keith Gill revealed a $53,000 bet in his favorite video game retailer. By the end of the jaw-dropping episode in April 2021, Gill exercised his call options position to have 200,000 common shares. Put another way: If the stock closes above $20 that day, Gill could exercise the options at $20 apiece, leaving him owning an additional 12 million shares. A total of 17 million shares would make him the fourth-biggest shareholder in GameStop, coming in behind Vanguard, BlackRock and Ryan Cohen's RC Ventures, according to FactSet. Zoom In Icon Arrows pointing outwardsThe notional value, if exercised, would be $240 million worth of stock bought at $20.

Persons: Keith Gill, Pavlo Gonchar, Gill, Michael Khouw, Khouw, Morgan Stanley's, Ryan Cohen's Organizations: GameStop, Lightrocket, Street Journal, CNBC, Vanguard, BlackRock, Ryan Cohen's RC Ventures

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ GameStop shares surge 73% after Roaring Kitty reveals $116 million bet
▼ + stars: | 2024-06-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in GameStop shot up almost 73% in pre-market trade Monday as the renewed frenzy around meme stocks shows little sign of abating. The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill — also known as “Roaring Kitty” — revealed that he had bought nearly $116 million worth of the stock. The post was the first on Gill’s Reddit account in more than three years, when social media-fueled hype around GameStop (GME) shares was in full swing. Meme stocks are shares that swing wildly in value based on their popularity among trader communities on social media rather than the companies’ fundamental characteristics. He also said he did not set out to help stoke the GameStop frenzy and instead believed the stock offered an attractive opportunity for investors.

Persons: Keith Gill —, ” —, Gill Organizations: London CNN —, GameStop, AMC Entertainment, stoke

☆ CNBC Daily Open: Nvidia shares soar on AI boom
▼ + stars: | 2024-05-23 | by ( Abid Ali | ) www.cnbc.com time to read: 1 min

In this article JPMGMENVDA Follow your favorite stocks CREATE FREE ACCOUNTIn this photo illustration the Nvidia logo is displayed on a smartphone screen and in the background. Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. You can subscribe here. What you need to know todayThe bottom lineGet the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.

Persons: Rafael Henrique Organizations: CNBC

☆ Options traders increased bets on GameStop weeks before its price spiked, setting up for gains near 1,000%. Here's the strategy behind it and the probability of it happening again.
▼ + stars: | 2024-05-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Those strike prices were substantially higher than the stock's price, which was trading between $10 to $16.50 that week. But what Sosnick found interesting was that the open interest went up faster for the $30 strike calls, signaling an expectation that the price would really rally this time. The table below shows the rise in open interest on strike calls of 20, 25, and 30 set to expire by May 17 and the price of the contracts. AdvertisementTom Sosnoff, the cofounder of Thinkorswim and Tastytrade, says there's probably a reasonable explanation behind the rise of open interest in GME. As for the rise of open interest on the 30-strike price, he attributes it to the cheapness of those contracts relative to the other strikes rather than a function of price prediction.

Persons: Keith Gill's, Roaring, Gill, Steve Sosnick, Sosnick, GME, Tom Sosnoff, there's, you'd, Sosnoff Organizations: GameStop, Social, Interactive, Traders Locations: GME

☆ CNBC Daily Open: Dow at record high, Iran’s president dies in helicopter crash
▼ + stars: | 2024-05-20 | by ( Abid Ali | ) www.cnbc.com time to read: 1 min

In this article GMENVDATSLAGOOGL Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024 in New York City. Angela Weiss | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? What you need to know todayThe bottom line

Persons: Angela Weiss Organizations: New York Stock Exchange, AFP, Getty, CNBC Locations: New York City

☆ CNBC Daily Open: Dow at record close, GameStop shares crash
▼ + stars: | 2024-05-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

In this article GMENVDATSLAGOOGL Follow your favorite stocks CREATE FREE ACCOUNTAndriy Onufriyenko | Moment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know todayThe bottom line

Persons: Andriy Onufriyenko Organizations: CNBC

☆ Roaring Kitty's tweet sent GameStop spiking. The company's cofounder shares his outlook on where the stock is headed and advises hedge funds on how to navigate it.
▼ + stars: | 2024-05-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.

Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners

☆ 'This is what you live for': How to handle GameStop's jaw-dropping swings as meme stocks make a comeback, according to a momentum-obsessed technical strategist
▼ + stars: | 2024-05-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

He believes the stock market is rational — even when it doesn't appear to be. Related stories"The market is ruthlessly efficient, both long term and short term," Lundgren said. The strategist added: "The market doesn't care one iota about fundamentals in the short term. Like any market, stock exchanges determine prices based on what buyers and sellers will pay and sell for. Just because it's taking place in a mall doesn't make that mall an insane asylum."

Persons: —, Tuesday's, Redditors, David Lundgren, Lundgren, who's, that's, It's, Benjamin Graham, Mark Minervini Organizations: Service, GameStop, Business, Street, MOTR Capital Management & Research, Little Harbor Advisors, AMC

☆ How bad bets on meme stocks led to a $1 billion wipeout
▼ + stars: | 2024-05-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —The only bet riskier than buying meme stocks like GameStop may be cheering for their decline. That’s the lesson Wall Street’s short-sellers are learning the hard way this week. See here: For the first four months of the year, GameStop short-sellers — investors who bet on a stock’s decline — were sitting on $392 million in gains, up nearly 50%. To understand the meme stock phenomenon, it helps to understand a bit of the tribalism underpinning it. Today’s GameStop shorts aren’t likely to hang on and repeat the mistakes of their Melvin Capital brethren.

Persons: CNN Business ’, Capital, RoaringKitty —, GameStop’s, Ihor Dusaniwsky, ” Organizations: CNN Business, New York CNN, GameStop, S3 Partners, Elon, Citron Research, Wall, Partners Locations: New York

☆ Meme stocks extend short-squeeze rally to massive 100%+ gains with GameStop and AMC leading the way
▼ + stars: | 2024-05-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

GameStop and AMC Entertainment extended their gains on Tuesday to more than 100%. AMC Entertainment took advantage of the massive rally by selling shares to raise capital. AdvertisementWhat began with a Sunday evening tweet from Keith Gill, AKA Roaring Kitty, has materialized into a massive short-squeeze rally that has taken shares of GameStop and AMC Entertainment up 74% and 78% on Monday alone. Before the opening bell, shares of GameStop and AMC soared as much as 158% and 132%, respectively. The rallies have pushed a massive short-squeeze in the stocks, not unlike the 2021 rally that caught Wall Street short sellers off guard and sank a prominent hedge fund.

Persons: Keith Gill, —, Wall, DataTrek, Nicholas Colas, Colas Organizations: GameStop, AMC Entertainment, Service, AMC

☆ GameStop, AMC rallies like 'watching a sitcom on repeat,' expert says. Here are the risks to monitor
▼ + stars: | 2024-05-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Spencer Platt | Getty ImagesShares of AMC Entertainment and GameStop have surged once again in a new "meme stock" rally triggered by social media. A social media account named "Roaring Kitty" posted an image for the first time in three years, prompting the trading frenzy. The man purportedly behind the Roaring Kitty account helped lead a meme stock frenzy between 2020 and 2021. watch nowIn some ways, this time differs from when the stocks surged during the Covid-19 lockdown. Roaring Kitty gives the impression that a guy is in his basement trading stocks instead of big investors like hedge funds and investment banks, he said.

Persons: Spencer Platt, Kitty, Dan Egan, Egan, aren't, Roaring Kitty Organizations: New York Stock Exchange, Getty, AMC Entertainment, GameStop Locations: New York City, Las Vegas

☆ Recent college grads are doing shockingly well. Can it last?
▼ + stars: | 2024-05-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And recent grads aren’t just finding any job, they’re finding good jobs. Not all is well: The EPI study found that racial and gender wage gaps still remain large among recent grads. GameStop shares tripped multiple circuit breakers — a temporary and mandated halt in trading to let investors cool off for a bit. Robinhood denied claims on social media on Monday that it had once again halted GameStop stock purchases on its platform. Robinhood has not shut down the purchase of Gamestop shares,” Robinhood spokesperson Anupriya Ghate said in a statement to CNN.

Persons: it’s, —, Katherine deCourcy, Elise Gould, “, Z, Z’ers, Krystal Hur, Keith Gill, Roaring Kitty, Gill, Robinhood, ”, Anupriya Ghate, ” Shein, Shein, CNN Shein Organizations: CNN Business, Bell, New York CNN, Economic Policy Institute, Stanford Institute for Economic Policy Research, Employers, GameStop, AMC, Partners, AMC Entertainment, Gamestop, CNN, Workers, Public, Public Eye Locations: New York, Black, Swiss, Guangzhou, China

☆ Stock market today: Indexes hover at records ahead of big inflation report
▼ + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

A downgrade revision in March's producer price index helped curb inflation concerns. Fed Chairman Jerome Powell signaled that interest rates will have to remain higher for longer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . While April's producer price index gained 0.5% against expectations of a 0.3% rise, March's data was revised to show a 0.1% decline. Many are also waiting to see Wednesday's consumer price index release, before determining whether to retreat from markets.

Persons: Stocks, Jerome Powell, —, Quincy Krosby Organizations: Service, Nasdaq, Federal, Global, LPL, AMC Locations: Here's

☆ The revived craze for GameStop is confusing Wall Street. It's 'not in a position to be profitable'
▼ + stars: | 2024-05-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The return of "Roaring Kitty" sparked a jaw-dropping advance in GameStop shares Monday, but such a speculative rally in an unprofitable company will likely end badly once again. Roaring Kitty, the man who inspired the meme stock mania of 2021, resurfaced online with a cryptic image showing a man in a chair leaning forward. GME 5D mountain GameStop Pachter has a underperform rating on GameStop and a $5.60 price target. At Monday's peak, GameStop hit $38.20. During 2021's mania, GameStop shares hit an all-time high of $120.75 intraday, adjusted for a subsequent 4-for-1 stock split in the summer of 2022.

Persons: Kitty, Michael Pachter, Pachter, Jeff deGraaf, he's, deGraaf, Jerome Powell, Bernstein, Mark Schilsky Organizations: GameStop, CNBC, Federal Reserve, Macro

☆ A flood of crypto tokens with names referencing GameStop and famed trader Roaring Kitty have been created in the last 24 hours as developers try to ride a meme-coin resurgence
▼ + stars: | 2024-05-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The social media return of Keith Gill, aka "Roaring Kitty," has sparked a flood of crypto meme tokens. Microcap meme tokens with names like "GME" and "Roar" have soared more than 1,000%. Most of the tokens were created in the past 24 hours as developers try to capitalize on the spike of interest. Another meme token created on the Solana network is "GIL", which was created early Monday morning and soared more than 4,000% on total volume of about $7 million. "ROAR" is another Solana-based meme token that was created Sunday evening and is trading up 1,856% on total volume of about $12 million.

Persons: Keith Gill, —, Keith Gill's, GIL, KITTY, Gill Organizations: Service, Solana, GameStop, AMC Entertainment Locations: Solana

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