As a crypto investor who closely follows the stock market and meme coins scene, I’ve been keeping a close eye on the recent developments with GameStop (GME) and its associated meme coin ($GME). The past week has been a rollercoaster ride for those who jumped on the bandwagon of the GME stock hype, especially for Keith Gill, also known as Roaring Kitty.
As a crypto investor following the market closely, I’ve been keeping an eye on the recent developments with GameStop (GME). The buzz surrounding Keith Gill, or Roaring Kitty, and his significant influence on the stock has been noteworthy. However, the past two days have seen a sharp decline in the GME price, resulting in approximately $350 million in losses for this influential figure.
The GameStop Price Tanks 50%
In the past few days, following a chaotic surge, the GameStop stock price has seen a significant decline, dropping over 50% in just two trading sessions. The price now hovers around $25.
Over the past four days, Keith Gill, or The Roaring Kitty as he’s also known, has experienced a significant loss of over $350 million on his GameStop (GME) investments. As recently as last Thursday, Gill boasted a profitable gain of approximately $382 million from his GME options.
By Friday, his fortune had suffered a substantial setback, with over $235 million erased from it. The downward trend persisted on Monday, causing GME to plummet an additional 12%, resulting in a staggering loss of around $351 million in profit over the past week.
Michael Pachter, an industry analyst at Wedbush who works with GameStop, voiced doubt over the company’s ability to undergo a significant transformation in light of its past unsuccessful attempts at strategic changes. Furthermore, Pachter cautioned that any potential surge in GameStop’s stock due to Keith Gill’s influence might be fleeting.
As a crypto investor, I believe that Keith Gill’s live stream on Friday could keep the share price buoyant for long enough to allow the company to finish its at-the-market offering. However, without a clear strategy in place, I suspect that the share price will eventually start to decline again and approach my new price target.
$GME Meme coin Drops 25%
In the midst of the market chaos surrounding GameStop, the unrelated cryptocurrency named GameStop ($GME) has experienced a staggering surge, rising approximately 5000% from its value at the start of June.
As a crypto investor, I’ve noticed that the hype surrounding GameStop (GME) has significantly decreased in the past day, causing the meme coin associated with it to drop approximately 25%. At the moment, $GME is trading at around $0.01596 and boasts a market capitalization of only $109 million. Additionally, the daily trading volume has shrunk by nearly half, amounting to roughly $116 million.
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2024-06-11 08:41