Roaring Kitty Uno Card -> GME Surge Or Slide?
We may have seen this roaring kitty post on X this morning, this is a reverse Uno card. So what does this mean?
In a game of UNO, the Reverse card reverses the direction of play and turn order. As a meme in pop culture, an UNO Reverse card acts as the ultimate comeback that flips the script on someone and is used similarly to the phrase “no u” (which is a rearrangement of the letters of "uno").
So are we expecting a comeback on the meme stock? So just wondering which stocks would it be? Are we ready for another roller coaster?
GameStop - Can It Hit $60 Once Again?
If you have been following roaring kitty, you would have seen his update on his GME holdings, he has more than $200 million of GameStop of which 5 million shares is price at $23.14, and an option call on GME expiring on 21 June 2024 at price $5.48, 120,000 of them.
And if we look at the 24-hours trading on GME, it has went up by more than 19% at time of this writing, so could we be expecting GME to surge when pre-market open in less than 15 mins?
There is another thought, what if roaring kitty decided to take profit, then we could be seeing sell-off, if that happen, shall we buy GME now?
Based on the technical indicator using MACD and KDJ, MACD suggest that it is not really forming an upside, but KDJ does give confidence of more upside.
Summary
Based on what we have seen how GME react to the roaring kitty post, it will be something interesting to look at.
I would be monitoring the price action and follow the tape and use pattern recognition to see if can get a scalp trade, we cannot do any mid or long term trade.
Appreciate if you could share your thoughts in the comment section whether you think GME would surge following roaring kitty post on X?
@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.
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P/E ratio of 1,500…yeah, that sounds like a smart investment