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GME Is Back!

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Written by Timothy Sykes
Updated 5/13/2024 6 min read

Ladies and gentlemen,

I’m getting deja vu. Anybody else?

  • The massive meme stock, GameStop Corporation (NYSE: GME) is spiking again.
  • Keith Gill and his Twitter handle, Roaring Kitty, are back in the news.
  • Major brokers are crashing.

It’s like 2021 all over again, lol.

I’m excited!

GME spiked 2,700% in 2021. It was a massive short squeeze initially exposed by traders in online forums like Reddit.

There’s a chart of the move below, every candle represents one trading day:

GME chart multi-month, 1-day candles Source: StocksToTrade

Keith Gill is one of the most famous examples. He’s a trader that testified in front of congress to try and shed light on the whole situation.

In case you weren’t aware … our political pundits actually know very little about the world of finance and market movements. Besides the obvious profit positioning we see from officials like Nancy Pelosi … 

The GME short squeeze caught everyone off guard. The investment management firm, Melvin Capital, was reportedly one of the big names shorting GME and lost millions as a result of the squeeze. That’s also why we saw brokers like Robinhood restrict GME shares during the height of the frenzy.

And now … it’s happening all over again.

The Newest Meme Spike

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GameStop used to be a decent video game retailer that sold used games.

But, much like the digitization of the film industry (R.I.P. Blockbuster), video games moved online.

Now people use software services like Steam to access their favorite games. You don’t need the physical game disk to play it.

As a result, GameStop’s business was quickly declining in the late 2000-teens. And Wall Street took notice …

A lot of people don’t know this: Major wall street hedge funds also hold short positions. If you give a finance bro enough money and time on his hands, he’ll find a way to try and leach more money from the market.

Hedge funds can make money by betting that crappy stocks will continue to fall.

There were a lot of people betting on the downfall of GameStop. And eventually, internet sleuths like Keith Gill recognized the massive short interest. They started to build positions against it.

See … the hedge funds needed people to sell their shares. That’s what would drive the price of GameStop lower, then the short sellers would cash out. But … if nobody sold their shares … the chance of a short squeeze grew.

Reddit Warriors

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This is where the term “diamond hands” came from. Traders who would hold massive amounts of GME stock for the sake of squeezing prices higher.

Keith Gill spread his trading thesis online, largely through Reddit and Twitter platforms. And on Sunday, May 12, 2024, Gill resurfaced online. His Twitter account hadn’t shown any activity since 2021.

I reposted his Tweet below, an image of a gamer beginning to take the game seriously:

As a direct result, GME spiked 110%* on Monday.

My students and I saw this play from a mile away! See my Tweet below:

And AMC Entertainment Holdings Inc. (NYSE: AMC) spiked 50%AMC was another meme stock that squeezed in tandem with GME.

There are charts of both moves on Monday below, every candle represents one trading minute.


GME chart intraday, 1-minute candles Source: StocksToTrade


AMC chart intraday, 1-minute candles Source: StocksToTrade

Wall Street Is Scared!

You might have noticed, traders using Etrade had a difficult time accessing their accounts yesterday morning …

It’s happening all over again!

When Morgan Stanley bought Etrade a few years ago, I warned people about sketchy market players. And now that Keith Gill is back online, Wall Street is quaking in their boots.

We can’t say for certain whether the Etrade difficulties were a malicious reaction to the GME spike … but it certainly is quite the coincidence …

Monday, May 13, 2024, marks the revival of an intense meme stock sector.

Keith Gill followed up his initial Tweet with a home video:

This is not the time to screw around!

The meme volatility is back. And small-account traders are in the perfect position to profit.

>> Join our trading live stream! <<

We’re covering the hottest plays, like GME and AMC, in real time! Traders get to watch these charts setup for solid trade opportunities while listening to the thought process behind professional millionaire traders.

If you missed the meme craze from a few years ago … Now is your time to capitalize.

Don’t waste this opportunity.



*Past performance does not indicate future results

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”