Last market week of February 15th was a rough week for GameStop falling another 20.57% sitting at $40.59 at the market close on Friday from its all time high at $483 from 10 days ago.
On February 18th, the House Committee of Financial Services put representatives surrounding the GameStop controversy in the spotlight including Keith Gill aka Roaring Kitty. Keith Gill is famously known for his bullish sentiment for GameStop and posting his massive gains that were once estimated to be 50 million at all-time highs on Reddit under the username of u/DeepFuckingValue (or DFV for short).
Now, why am I watching GameStop this week? Just on Friday at market close, DFV posted a new update on his GameStop portfolio.
So, if we compare it to his last post from February 3rd, 2021, the key difference is an addition of 50,000 GameStop shares (approximated 2 million dollars)
Two million dollars worth of shares is no joke was probably not a light decision made by him especially after attending the GameStop hearing with Congress.
I believe this post alone sent GameStop jumping 6% in aftermarket hours. I can only imagine that this injects new momentum into the stock. Will this give bagholders at the top hope or trap new gamblers into the stock.
Currently, Wallstreetbets is celebrating his new post and reviving new memes about rallying to buy GameStop. Who knows what these recent moves events will cause the stock to go. Will retail investors have another chance to “stand up” against institutions or is there more pain to come? Grab some popcorn and I will be watching this stock this week on both sides.