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| | Retail Stocks Fall as GameStop Hearing Kicks Off… But Data Says Buy the Dip | | |  | As I write this, Keith Gill — better known as "Roaring Kitty" on YouTube and "DeepF***ingValue" on Reddit's WallStreetBets forum — is testifying before the House of Representatives.
And man, he was not mincing words as he kicked off his prepared testimony.
Here are some of my favorite lines so far…
"A few things I am not: I am not a cat. I am not an institutional investor. Nor am I a hedge fund."
"GameStop has a unique opportunity to pivot toward a technology-driven business. By embracing the digital economy, GameStop may be able to find new revenue streams that vastly exceed the value of its business."
"As for me, I like the stock."
That last statement, if you aren't aware, is a clear reference to one of WallStreetBets' countless memes…
And while that's going on, market action — and the narratives being pushed by T.V. pundits — appears largely to be driven by Walmart earnings, which missed expectations and are down about 6% at the time of this writing. | | Should You Buy the Dip? | | |
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