What is going on with GameStop (2024 Edition) - Explained

Did Roaring Kitty sell his twitter account? Is the short interest the same as 2021? Do we know what's going to happen because it's happened before?
This week, GameStop skyrocketed by over 270% within two trading days at one point. What's driving this surge, and is it different this time around?
Key Highlights:
-The Roaring Kitty twitter account posted a meme after three years of inactivity, sparking speculation
-Theories about whether Keith Gill sold his account and the impact of these tweets
-Citron Research's Andrew Left shorting GameStop again
-Renaissance Technologies' strategic move ahead of the recent rally
-What are the differences between 2021 and today?
Trading meme stocks is gambling, not investing. But: Have you ever gambled with meme stocks? Has this round of GameStop action tempted you into trading it trying to make a quick buck? Were or are you long, or short? Using options? Or do you prefer the long-term discipline approach for 100% of your money?
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[@wildwheelsdarin]

I had a quick peek but didn’t want to risk losing. Greed tends to raise its head when you’re in the game. I would have likely held on too long!

[@PreetBanerjee]

"Investor, know thyself." You pass! 😊

[@drottningu]

I don't trade meme stocks like this, but in the online video games I play there is no short supply of trolls egging you on to go buy tons of gamestop.

[@PreetBanerjee]

Thanks for sharing that - that’s very interesting!

[@tonysim4290]

What about the difference today were so much more retail have taken ownership of their shares by DRS?

[@johnnyflannigan136]

Must be a factor

[@PreetBanerjee]

I wonder if it is a double-edged sword: less shares to short so the short interest has a lower limit (and it was partly the high short interest that put GME on the radar in the first place), but a lower tradeable float also reduces shares available for covering those who are short if they need to cover. There are some other differences as well: hedge fund analysts have had three years to study how the retail investor movement in meme-stocks worked in the past and using that info against them.

[@scottshafer9813]

Great work Preet !

[@PreetBanerjee]

Thanks Scott! Love the profile pic. I miss my motorcycles (never had a dirt bike but I’ve launched myself into a tree on one lol)