The GameStop saga

I have no position in GameStop and have no real desire to participate in any memestock, but I found myself rooting for Roaring Kitty as he tried to rally GameStop’s price up. I simply thought it was hilarious that something like this was happening and wanted to see if they could actually pull it off.

Unfortunately, it was for naught and the stock tumbles 40% after earnings release and announcement that the company was selling more stock.

Of course, most people probably could see this coming. These situations almost always end up the same with retail getting shafted the most. I can imagine a lot of ordinary working class folks lost a lot of money today which is sad. Degens will be degens.

I have no idea what will happen to Roaring Kitty. This does feel like market manipulation and seems like an easy target for the Feds to go after.

Regardless, it was entertaining at least for me who was sitting on the sidelines. I can’t imagine this will be the last time we see something like this happen.