Reddit

GameStop

Million

April

<ul class="list-ic vertical">
 <li><span>1</span> <a>In the last 24 hours, there has been a huge volatility spike in the share prices of GameStop Corp., listed on NASDAQ with the ticker GME.&nbsp;</a></li>
 <li><span>2</span> <a>The increase in spike has led to an almost 40% fall in prices, increasing sell pressure from traders.</a></li>
 <li><span>3</span> <a>Keith Gill, known as Roaring Kiity on YouTube and DeepF***ingValue on Reddit’s popular WallStreetBets, has started sharing his live views on the trading of GME stock, which led to a surge of 1600% in Jan 2021.</a></li>
</ul>
<p><strong>Keith Gill’s</strong> account on YouTube, X, and Reddit has not witnessed any activity in the last 3 years. However, he became active after a sudden price change in the <strong>GME</strong>. He announced that he will be initiating live streaming again on Friday, June 7.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-details-of-recent-posts-strong"><strong>Details of recent posts</strong></h2>
<p><strong>Gill</strong> initially shared details that the <strong>GME stock</strong> was going to rise and shared details. He has shared his open positions in the stock worth $115 Million to support his views and gain anticipation. It led to an increase in prices by 21% on Monday.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="965" height="907" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-92.png" alt="GME" class="wp-image-208170" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-92.png 965w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-92-300x282.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-92-768x722.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-92-750x705.png 750w" sizes="(max-width: 965px) 100vw, 965px">
 </figure>
</div>
<p class="has-text-align-center">Source: X.com</p>
<p>He then scheduled his live streaming again for Friday, June 7, at 12 PM ET, where he was supposed to discuss his open positions, leading to a 50% surge in the price. The shared post featured Gill’s trademark cat.&nbsp;</p>
<p>This announcement led to a discussion among analysts and readers about the price movement in <strong>GME</strong>.</p>
<h3 class="wp-block-heading" id="strong-live-stream-details-strong"><strong>Live Stream Details</strong></h3>
<p>All the interested individuals kept their eyes on the screen to witness the live streaming again, as it was expected it would have some updates and advancements.</p>
<p>However, he arrived almost half an hour late to the screen, precisely 27 minutes later than the scheduled time, and communicated informally in casual attire.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-the-impact-on-the-gme-price-strong"><strong>The Impact on the GME Price</strong></h3>
<p>People were questioning all the surges that occurred this week and the basis of belief in the rise of prices from <strong>Keith Gill, as <a href="https://www.thecoinrepublic.com/2024/06/07/gamestop-crypto-surging-again-gme-made-new-ath-spiked-160/" target="_blank" rel="noopener noreferrer nofollow">GameStop </a>Corp</strong>. is not doing great financially, as per the latest report.</p>
<p>The latest quarterly report shows a decrease in sales of over 20%, leading to net losses. It contradicts Gill’s live streaming in 2021, as the company was in an excellent financial position.</p>
<p>The live streaming, fundamental report, and its announcement to sell an additional 75 Million led to a decrease in prices by 39.38% in the previous trading session. The price at the time of market close was $28.22, experiencing an absolute decline of $18.33. It has witnessed significant sales volume, with the highest sales in April 2021, as per the volume chart from Investing.com.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="650" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93-1024x650.png" alt="GME" class="wp-image-208171" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93-1024x650.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93-300x190.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93-768x487.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93-750x476.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-93.png 1089w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: Investing.com</p>
<p>All these sudden movements led to a significant spike in volatility, as the implied volatility is over 500% based on the current open positions.&nbsp;</p>
<p>All the buzz around<strong> GME</strong> has led to a spike in both call and put options for the weekly expiry, as per the options data from Yahoo Finance. The put option has an expiration date of June 14 and a strike price of $37, with a recorded rise of 110.08%.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="549" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-1024x549.png" alt="GME" class="wp-image-208172" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-1024x549.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-768x412.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-750x402.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94-1140x611.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-94.png 1184w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: Yahoo! Finance</p>
<p>The significant price decline has led to profit in put options and losses in call options.</p>
<p>The price decline is expected to continue as the GME prices have further declined by 3.76% in the after-market session.</p>
<h3 class="wp-block-heading" id="strong-impact-on-gme-strong"><strong>Impact on $GME</strong></h3>
<p>A similar price trend was observed in the <strong>GME ($GME)</strong> crypto token as it experienced a decline of over 50% in the last 24 hours after marking its all-time high (ATH) of $0.03201 on June 6.</p>
<p><strong>$GME</strong> meme coin initiated its trading in Jan 2024 and was launched as a tribute to the short squeeze of <strong>GameStop</strong> that occurred in 2021 due to Gill’s live streaming.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.</p>

Roaring Kitty’s Activities Led to Fall in Prices for GME and $GME

Table of Contents

Thecoinrepublic.com

Other articles published on Jun 8, 2024

Former Federal Agents Demand Binance Exec’s Rescue From Nigeria

PEPE whales buy the dip, but is that enough for the memecoin?

Key Reasons Why Polygon (MATIC) Price Might Skyrocket

Crypto: Solana Explodes Past 1 Million Active Wallets In 24 Hours!

Bitcoin – Did a strong U.S Jobs report REALLY pull BTC below $70K?

Is Ethereum (ETH) Going to Lose $4,000? Solana at $170: Was It Fakeout? XRP Remains Stable

Join our free newsletter for daily crypto updates!