Roaring Kitty Now Hints At A Possible Short Squeeze
Roaring Kitty now hints at a possible short squeeze after publishing a post on X displaying an image of a computer and headline reading ‘TIME’.
GME shareholders have been buying and holding the stock waiting for another shot at squeezing Wall Street.
GameStop shares were halted after surging to $28, only a 5% increase at the time.
The cryptic tweet also launched AMC Entertainment stock to over $5.50.
GameStop’s current trading volume is trading 3x its average trading volume of 10.6 million.
Investors speculate the time has come for another massive rally for the game retailer.
On Thursday, approximately 300,000 options contracts for GameStop had been traded by 2:14 p.m. (1914 GMT), which is about 1.5 times the typical trading volume, according to data from the options analytics firm Trade Alert.
The stock’s 30-day implied volatility, a measure of how much traders anticipate the stock will fluctuate in the short term, surged to a three-week high of 132%, up from 93% the day before.
The most actively traded options were those betting that the stock would close above $30 by Friday, with around 32,000 contracts changing hands by late afternoon.
GME stock closed up nearly 6% on Thursday.
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Also Read: JPMorgan Has Now Paid A Whopping $40bn In Violations
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