<story><title>A year on, GameStop champion Roaring Kitty is quiet, yet much richer</title><url>https://www.reuters.com/technology/year-gamestop-champion-roaring-kitty-is-quiet-yet-much-richer-2022-02-02/</url></story><parent_chain><item><author>jimmydorry</author><text>It really lifts the veil on how little research goes into some of these articles when you see the reporting on a topic you have closely followed.&lt;p&gt;&amp;gt;The stock, which peaked at $482.95 a share when hedge funds that had shorted GameStop were forced to buy at any price, has come back to earth. But it is still at about $112 a share, compared to less than $20 on Jan. 1, 2021.&lt;p&gt;This is a pretty basic error to make when the SEC investigated and even put out a report showing that the majority of that price movement was from non-short sellers (e.g. retail) and that as a proportion of volume, barely any of it was due to short sellers closing their positions.&lt;p&gt;The article also completely glossed over the fact that DFV was made fun of and derrided for taking such a large risk in GME. Especially when it was down (for a majority of the time since he started posting that position, if I recall corrected). It instead portrays him as making &amp;quot;consistent returns&amp;quot; and starting a movement to influence the price.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.sec.gov&amp;#x2F;files&amp;#x2F;staff-report-equity-options-market-struction-conditions-early-2021.pdf&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.sec.gov&amp;#x2F;files&amp;#x2F;staff-report-equity-options-market...&lt;/a&gt; Page 28 if you want a nice graph to take a glance at.</text></item></parent_chain><comment><author>shawabawa3</author><text>&amp;gt; the SEC investigated and even put out a report showing that the majority of that price movement was from non-short sellers (e.g. retail) and that as a proportion of volume, barely any of it was due to short sellers closing their positions.&lt;p&gt;That&amp;#x27;s talking about the longer lasting effects (i.e. the reason GME stayed at $100+)&lt;p&gt;but from p26:&lt;p&gt;&amp;gt; particularly during the earlier rise from January 22 to 27 the price of GME rose as the short interest decreased. Staff also observed discrete periods of sharp price increases during which accounts held by firms known to the staff to be covering short interest in GME were actively buying large volumes of GME shares, in some cases accounting for very significant portions of the net buying pressure during a period&lt;p&gt;The run up to $500 was almost certainly a short squeeze</text></comment>
<story><title>A year on, GameStop champion Roaring Kitty is quiet, yet much richer</title><url>https://www.reuters.com/technology/year-gamestop-champion-roaring-kitty-is-quiet-yet-much-richer-2022-02-02/</url></story><parent_chain><item><author>jimmydorry</author><text>It really lifts the veil on how little research goes into some of these articles when you see the reporting on a topic you have closely followed.&lt;p&gt;&amp;gt;The stock, which peaked at $482.95 a share when hedge funds that had shorted GameStop were forced to buy at any price, has come back to earth. But it is still at about $112 a share, compared to less than $20 on Jan. 1, 2021.&lt;p&gt;This is a pretty basic error to make when the SEC investigated and even put out a report showing that the majority of that price movement was from non-short sellers (e.g. retail) and that as a proportion of volume, barely any of it was due to short sellers closing their positions.&lt;p&gt;The article also completely glossed over the fact that DFV was made fun of and derrided for taking such a large risk in GME. Especially when it was down (for a majority of the time since he started posting that position, if I recall corrected). It instead portrays him as making &amp;quot;consistent returns&amp;quot; and starting a movement to influence the price.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.sec.gov&amp;#x2F;files&amp;#x2F;staff-report-equity-options-market-struction-conditions-early-2021.pdf&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.sec.gov&amp;#x2F;files&amp;#x2F;staff-report-equity-options-market...&lt;/a&gt; Page 28 if you want a nice graph to take a glance at.</text></item></parent_chain><comment><author>bigram</author><text>It&amp;#x27;s not clear to me what you think the error is. That the majority of the price action was caused by retail and not short sellers covering their position doesn&amp;#x27;t negate the fact that shorts were forced to cover their positions and did so. The language and charts in the SEC report show as much.</text></comment>