The saga of GameStop and its volatile stock price continues. This week, the video game retailer’s share price spiked by 75% after prominent investor Keith Gill, better known online as “Roaring Kitty” or “DeepF–ing Value,” revealed a 5 million share stake on social media platform X. This surge triggered a familiar face to re-enter the fray: Andrew Left, founder of Citron Research.
Left, a vocal critic of GameStop and meme stocks in general, has initiated a new short position against the company. This comes after Citron Research took a significant loss during the 2021 GameStop short squeeze, where retail investors banded together to drive the stock price up dramatically.
“I have covered my short from May and then re-shorted it today,” Left told Bloomberg, indicating a reduced position compared to 2021. Left also took a swipe at Gill, suggesting his social media influence rivals that of a hedge fund manager.
Gill’s return to the scene has reignited the meme stock frenzy, with GameStop’s early gains adding $6 billion to its market cap before volatility triggered a trading halt. The stock price settled at a 21% increase by Monday’s close.
Also Read: Is GME The Next Meme Coin Moonshot? Social Media Frenzy Reignites GameStop Mania
This renewed interest comes as the U.S. Justice Department continues its investigation into short selling practices by hedge funds and research firms, including Citron Research.
The story doesn’t end there. While GameStop‘s stock price has cooled slightly, the return of meme stocks and the ongoing battle between retail investors and short sellers continues to captivate the market. Will history repeat itself, or will Left find success where he previously failed? Only time will tell.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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