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Mark the date people. Something big might happen on the 21st of June.
So what am I talking about? 🤔
Let me break it down for you.
Yesterday, Roaring Kitty (Keith Gill) - the GameStop (GME) holder made YT live for the first time after a long few years break.
He showed that he is still holding 5 mil shares of stock AND 120k call options. And they are expiring on 21st of June.
All worth around $300 mil 😮
WTH does that mean? 😒
Stock call option means that you are paying the price to someone who is willing to sell that option. So you have to pay something upfront and it allows you to purchase that stock at a future price (now) of the sale AT THE PRICE you initially purchased the option (around $5.67).
If GameStop had reached a price of $67 he would have been holding a billion worth of stocks from his initial $50k investment on the stream. A lot of this hype was the result of why crypto market was performing so well lately 💸
But guess what? Will big guys let him become one? Think again 💭
GME releases their earning report a week early! (Little bit weird, don’t you think?) 🫣 Reporting a 29% sales decline. Which might have caused a drop in the stock value itself.
MOREOVER, they report that they are planning to sell 75 million shares to raise more capital for the company.
What also might have happened is that big whales wiped a part of their positions to bring down GameStop stock below $23, as well as the crypto market (massive BTC liquidation drop) 📉
Why do they care? 🤷♂️
They care cause when the GME stock is going up short sellers and hedge funds are down over 1 bil dollars. So quite a BIG reason here 😁
But that is just phase 2 as Roary explained. The best is yet to come ⚠️
On the 21st of June, he might exercise his call options and cause a huge stock jump which will not only cause GME stock but also the whole meme crypto prices surge.
That is why this date might be SO IMPORTANT🚨
That is why the stock and crypto market might face a huge collision here.
Of course, it is just a little part of what is going on. You have to do your own research.
I do not share advice. I share my journey. My thoughts. My positions. Transparency 🙏
I still hold my $PEPE $BONK $SHIB investments.
And you can FOLLOW me to see that on the way and we could walk down this road together. Why do it on your own? C’mon 😉
