The battle between the wall and the retail revolution Roaring Kitty & GameStop

Published by : Frie   

 Roaring Kitty ended her livestream on YouTube. What's special is that trading in GameStop shares was halted multiple times during this process.

Wall Street is fighting back against Roaring Kitty

As BeInCrypto previously shared, Roaring Kitty or Keith Gill planned to livestream about the GameStop stock investment campaign today. There are nearly 600,000 people waiting and watching his livestream session. According to estimates, Roaring Kitty's investment this time could reach $1 billion if GameStop shares rise above the $67 mark.

Gill outlined several reasons why he bought back GME stock. He said betting on GME is betting on Ryan Cohen and his management team. Gill believes that Cohen has a plan to turn the company around in a context where the retailer reported disappointing first-quarter earnings. It was Gill's return and move of confidence that caused GME price to increase nearly 150% since May 13.

However, the reality was not what the community had calculated. GameStop shares fell 40% near a session low of around $28 per share. Not only that, according to BeInCrypto's records, the stock was stopped at least 6 times during the trading session. However, at the end of the session, Gill still had 120,000 buy options for GameStop with an exercise price of 20 USD, expiring on June 21.

Not only did GameStop stock price drop sharply after Roaring Kitty's livestream, other meme stocks also recorded similar declines. For example, shares of AMC Entertainment fell about 14% in the process, for a total decline of nearly 19% this year.

Roaring Kitty's temporary defeat before Wall Street this time not only affected the GME stock price, but the following meme coins also recorded a large decline after a series of strong increases. As an example, the price of meme coin GME has decreased by 22% in the past 1 hour. Worse than GME, the Roaring Kitty (KITTY) meme coin price lost nearly 44% of its value after the livestream session ended. Of course, both of these meme coins have also recorded hot increases, increasing by more than 300% and 398% in the past 7 days.

Thus, investing in meme coin once again shows us its uncontrollable volatility. Therefore, readers should consider carefully before participating.