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Roaring Kitty's flawed meme trades test integrity, says ALEX BRUMMER By Alex Brummer for the Daily Mail Updated: 22:01, 4 June 2024 e-mail View comments Much has changed since 2020 when meme stocks caught the imagination, driven by social media platforms. Raw capitalism went viral for a generation uninitiated in the ways of Wall Street. I recall a colleague rushing into my office telling me how easy it was to make instant profits and urging that we let readers in on the secret.

Since then, Reddit, favourite platform of meme stock enthusiasts, has listed on Nasdaq and been given a valuation of £7.4billion. That is about twice the price that Czech sphinx Daniel Kretinsky wants to pay for Royal Mail.



Robin Hood, the broker favoured by meme stock devotees because of its ‘no commission’ structure, also floated and is worth £15billion, which is three times as much as the popular UK investment platform Hargreaves Lansdown. Viral capitalism: After meme-stock folk hero Keith Gill posted a screen shot of suggesting he had taken a £93m holding in GameStop the stock of the video games retailer rocketed by 90% What hasn’t changed is the ability of Roaring Kitty, the Reddit account favoured by meme-stock folk hero Keith Gill, to move markets. After Gill posted a screen shot suggesting he had taken a £93million holding in GameStop shares plus a big options bet, the stock of the video games retailer rocketed by 90 per cent.

It ended Monday trading 21 per cent up. All of this didn�.

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