The hot market for retail group stocks (MEME stocks) is still ongoing. Last night, Game Station surged 60% again, and on the previous trading day, Game Station opened up more than 50%, with a surge of over 110% at one point. Due to excessive volatility, the circuit breaker mechanism was triggered six times during trading. In addition, AMC theaters rose by over 30%, Gauss Electronics rose by over 40%, and BlackBerry rose by over 10%, all of which continued to rise significantly after hours.
According to data from S3 Partners, short positions at Game Station have lost a total of $1 billion due to Monday's intraday surge. The game station continues to rise significantly, and the rapid increase in market value means that the losses of bears will be further amplified.
# 1 Niusan Returns
On the news page, Keith Gill, the "number one influencer" who once promoted the "retail war on Wall Street" in 2021, has returned to social media platform X after three years. Gill's social media name is "Roaring Kitty", and he posted his first post on X since June 2021. The content of the post is an emoji picture of a man sitting on a chair, which is an emoji used by gamers, implying that he is "getting serious". Some traders believe that this means Jill is going to take action again.
According to E Company's report, Keith Gill's posts on X have received over 18 million views. Subsequently, he released some movie clips that revolved around the character's return. His previous tweet was in June 2021, featuring a video of a cat sleeping. At the US stock market forum, many investors welcomed Keith Gill's return and created various images of him wearing a crown.
According to the Securities Times, the significance of Keith Gill's return is not yet clear, but it is worth mentioning that the images posted by Keith Gill have similarities with the posts shared by Game Station's official social media platform in February. Although Keith Gill's version uses a different color, with the chair changing from blue to red, this similarity makes many people believe that he wants to return and buy Game Station's stocks.
Looking back on the 2021 "retail investors vs. Wall Street"
According to China Fund News, the so-called "retail war on Wall Street" refers to the event in early 2021 where some American retail investors joined forces through social media platforms such as Reddit's Wall Street Bets forum to buy stocks that were heavily shorted by hedge funds, thereby driving up the prices of these stocks. Game Station is one of the most famous stocks in this movement.
At the beginning of 2021, the stock price of Game Station has been hovering at a relatively low level, causing some hedge funds to establish a large number of short positions and expecting the stock price to further decline.
Members of the Wall Street Bets forum on Reddit began to notice this situation and began discussing and buying stocks and options for game stations, driving up stock prices.
On January 28th of that year, the stock price rose to a historic high of $483 per share.
Tesla CEO Elon Musk and other celebrities have also expressed their support for retail investors on social media, further amplifying the impact of the event.
Some short selling institutions such as Citron Research have changed their investment strategies due to huge losses, and the game station incident has also been adapted into literary works and movies.
This article combines China Fund News, China Securities News, E Company, and Securities Times