AMC Entertainment Holdings, Inc. (AMC) shares are soaring today following the company’s announcement of a significant debt retirement maneuver. This move aligns with AMC’s strategy to reduce its debt load and could be further fueled by renewed interest from meme-stock enthusiasts. Find out what drove the surge and the potential role of ‘Roaring Kitty’ in the current market sentiment.
GameStop, SoFi Technologies, Tesla, Cassava Sciences, and Anavex Life Sciences are the hottest stocks on Stocktwits this week. Find out what’s driving their popularity and whether the hype is justified.
GameStop shares climbed in pre-market trading Tuesday after Keith Gill, the influential investor known as ‘Roaring Kitty,’ sold his stake in Chewy. Gill’s departure from Chewy follows a period of meme stock frenzy in 2021, where his public analysis and social media presence fueled retail investor interest in GameStop. The divergent price movements highlight the continuing impact of Gill’s actions on the market.
Keith Gill, the famed ‘Roaring Kitty’ meme stock trader, has sold his entire stake in Chewy, causing the online pet retailer’s shares to drop in after-hours trading. This move comes after months of speculation and follows Gill’s recent activity on social media platforms like X and Reddit. Gill’s influence in the meme stock frenzy has sparked renewed interest in companies like Chewy and GameStop, where he also holds a significant position.
Chewy, Inc. (CHWY) shares surged higher following Petco Health and Wellness Inc.’s (WOOF) second-quarter financial results. While Petco missed earnings targets, its sales met expectations, and a cryptic post by ‘Roaring Kitty’ on Reddit sparked meme stock excitement, boosting both Petco and Chewy shares.
GameStop shares soared on Monday, igniting memories of the 2021 meme stock frenzy. The spark was ignited by a cryptic tweet from Keith Patrick Gill, known as Roaring Kitty, who catalyzed the original GameStop short squeeze. The tweet, featuring a focused gamer, sent ripples through the market, leading to triple-digit gains for GameStop and notable increases in other meme stocks like AMC Entertainment, Dogecoin, and Shiba Inu. Gill’s analysis of GameStop’s undervaluation and excessive shorting had previously galvanized individual investors during the pandemic lockdowns.
Destiny Tech100, a recently launched fund, has caused a stir among investors with its volatile performance and access to private technology companies. Despite concerns raised by Morningstar and competitor ARK Investment Management about its high fees and structure, Destiny Tech100 has seen significant interest from retail investors, contributing to its rapid growth. The fund’s founder, Sohail Prasad, aims to provide wider access to pre-IPO companies typically reserved for affluent investors. ARK Investment Management, led by Cathie Wood, has its own fund in this space, named ARK Venture Fund, but it has faced challenges attracting investors. Despite criticism, Prasad remains confident in Destiny Tech100’s approach, emphasizing its simplicity and liquidity. Both ARK and Morningstar have raised concerns about Destiny Tech100’s high fees and structure, but Prasad believes the fund offers a valuable opportunity for investors to access private market opportunities.
