'Wolf of Wall Street' Jordan Belfort Warns of GameStop Stock Craze Return

GameStop Rally Continues Following Return of 'Roaring Kitty'

GameStop Rally , Continues Following Return of, 'Roaring Kitty' . On June 3, meme stock GameStop rallied on rumors that Keith Gill, the inspiration for the stock's 2021 short squeeze, may be holding a significant share of the company. . NBC reports that Gill, otherwise known as Roaring Kitty on YouTube and X, posted a screenshot of what is believed to be his extensive GameStop portfolio of common shares and call options. . NBC reports that Gill, otherwise known as Roaring Kitty on YouTube and X, posted a screenshot of what is believed to be his extensive GameStop portfolio of common shares and call options. . According to the image shared on Reddit's r/SuperStonk forum, Gill is holding 5 million shares of GameStop with an estimated worth of $115.7 million. . According to the image shared on Reddit's r/SuperStonk forum, Gill is holding 5 million shares of GameStop with an estimated worth of $115.7 million. . The post also showed 120,000 call options with a strike price of $20. . On May 31, GameStop shares closed at $23.14. As a result of Roaring Kitty's post, shares in GameStop were up almost 84%, reaching $42.55 in premarket trading. NBC reports that around the same time as the Reddit post, Gill also made a cryptic post on X of a 'Reverse' card from the game 'Uno.'. NBC reports that around the same time as the Reddit post, Gill also made a cryptic post on X of a 'Reverse' card from the game 'Uno.'. Three weeks ago, Gill's first return to social media led to an initial rally for GameStop that saw shares more than double for the month of May. Three weeks ago, Gill's first return to social media led to an initial rally for GameStop that saw shares more than double for the month of May. In response to the May rally, GameStop capitalized by raising over $900 million in a stock sale. The rally comes as GameStop continues to struggle amid the transition away from brick-and-mortar video game stores and towards online gaming. . The rally comes as GameStop continues to struggle amid the transition away from brick-and-mortar video game stores and towards online gaming.

Stock Markets Rally Amid Investor Hopes for Interest Rate Cuts in 2024

Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024. On the morning of May 15, both the S&P and the Nasdaq hit all-time highs after new data suggested inflation may be easing in line with expectations. Quartz reports that the Dow Jones Industrial Average is also inching toward the record-breaking 40,000 mark, which it almost hit in March. . According to the latest Bureau of Labor Statistics data, April saw the Consumer Price Index, a key gauge of inflation, rise by 3.4%. At the same time, consumer prices increased by 0.3%, slowing slightly from March's 0.4% increase. The latest data also shows that core prices, which don't include food and energy, saw the lowest increase since April of 2021, rising just 3.6%. . As a result, investors have a sense of renewed hope that the Federal Reserve will begin to cut interest rates at some point in 2024. The latest inflation data was released one day after the Producer Price Index, which measures wholesale inflation, increased 0.5%. . Over the past year, the index has increased 2.2%. Shortly after markets opened, the Dow jumped up 147 points, hitting 39,705, while the S&P 500 and the Nasdaq saw 0.5% increases. Shares in GameStop were down 30% after experiencing a boost earlier this week by the online return of investor "Roaring Kitten."