RoaringKitty and WallStreetBets Should Be Sent to Prison

RoaringKitty and WallStreetBets should have been sent to prison back in 2021 when this whole market manipulation scheme was cooked up by these wide-eyed, autistic fraudsters. Unfortunately, the SEC’s lack of action has put the investments of EVERYONE at risk. This was proven with the recent flash crash of Berkshire Hathaway ($BRK.A) and other stocks last week which was pawned off as a “glitch.”

How Did We Get Here?

Roaring Kitty and the WallStreetBets community encouraged their followers to buy and hold $GME and $AMC stocks (which were and are dying companies), creating a demand that far exceeded the supply. This resulted in a significant increase in the stock prices back in 2021. As the stock prices rose, short sellers (investors who bet that the stock price will fall) were forced to buy back the stocks they had borrowed to cover their positions, further driving up the price in a phenomenon known as a “short squeeze.”

The use of social media platforms to disseminate information and coordinate actions is a key factor in this market manipulation scheme. The community’s ability to influence stock prices through their online presence and coordinated actions was unprecedented and illegal. The actions of Roaring Kitty and the WallStreetBets community have had a profound impact on the market. The surge in stock prices led to significant losses for hedge funds that had shorted the stocks and those at the bottom of the pyramid of the WallStreetBets induced pump and dump. All while the culprits of this scheme literally stole the money from the donks they manipulated Reddit.

Fast Forward to Today

@TheRoaringKitty went into hiding for a couple of years after the previously mentioned events and recently came out of his hole and began posting on Twitter/X. This led to his @wallstreetbets goons using their Reddit platform to begin pumping these dying companies again. Unlike in 2021, when the FED was printing money in mass, the economy is under the FED’s monetary tightening policy which has made liquidity scarce.
The result is investors are selling long positions at market value to move those funds into the RoaringKitty manipulated $GME and $AMC stocks in hopes of getting some quick dumb-money. The consequence? Selling low public float companies with little and/or no limit sell orders on the order book is how the “so-called” glitch that sent $BRK.A and other stocks flash dipped by 90%+ on 06/04/2024 happened.
In other words, RoaringKitty and WallStreetBets are inspiring unrealistic market expectations on a grand scale that is now affecting more than just “Hedgies.” This nonsensical scam is putting EVERYONE’s market investments at risk. This includes “regular People’s” 401k’s, retirements, funds, etc. And where’s all the money going? @TheRoaringKitty and WallStreetBet’s pocket right as the American economy is on the brink of recession/depression.

In Summary

Since the SEC has allowed these frauds to operate without any threat of consequence, it has bolstered the “Meme” credibility of this scam, and this irrational thinking has now permeated into the Bear/Conservative contingent of investors. Moreover, the lack of action by ANY authority over this scam is now setting a precedent for ANYONE to use their social media influence to manipulate People into buying a stock and/or any other financial instrument.

The longer Roaringkitty and Wallstreetbets are allowed to operate without impunity, the more risk of the equities market having more “glitches” like the one this week. But this time, because liquidity has dried up, there will be no “buy the dip” moment the next time this happens on a grand scale.

Ghost

2 thoughts on “RoaringKitty and WallStreetBets Should Be Sent to Prison”

  2. RoaringKitty is such a fucking scammer whose GME stock continues to fall, even his fruitcake ass cannot save the bullshit that is not going to work in the today’s stock marketing standards. Never invested GME, AMC, Bed, Bath and Beyond, among any companies who should’ve bankrupted back in 2009 when nobody’s buying their shit anyway.

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