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From GameStop to Crypto: Roaring Kitty’s Return Sparks Speculation of New Market Surge

Published

5 months ago

on

GameStop - Investorsking

The unexpected resurgence of Keith Gill, famously known as “Roaring Kitty,” has reignited speculation across both the stock and cryptocurrency markets as traders eagerly anticipate the possibility of another market surge reminiscent of the GameStop frenzy of 2021.

Gill, a pivotal figure in the GameStop saga that unfolded during the pandemic, made headlines once again with his return after nearly three years of silence.

His reappearance on social media platforms, marked by a cryptic meme signaling his comeback, has sent shockwaves through the financial world.

The GameStop saga, which saw retail investors on platforms like Reddit band together to challenge institutional investors by driving up the stock price of the struggling brick-and-mortar game retailer, resulted in a meteoric surge that defied all expectations.

The price of GameStop (GME) skyrocketed by over 1,000% in less than a month, leaving Wall Street in disarray and reshaping the dynamics of retail investing.

Now, with Roaring Kitty back in the spotlight, speculation abounds regarding the potential for a sequel to the GameStop saga, aptly dubbed “GameStop 2.0.” Traders and analysts alike are closely monitoring market activity, searching for signs of a similar phenomenon unfolding.

In the 24 hours following his comeback, shares of GameStop rallied by as much as 111%, showcasing the lingering influence of Roaring Kitty on the market.

Yet, it’s not just GameStop that’s capturing the attention of investors. Cryptocurrency markets, particularly memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), have also experienced renewed interest in the wake of Gill’s return.

Both DOGE and SHIB saw gains of 6.2% and 5.4%, respectively, in the same time frame, signaling a potential correlation between Roaring Kitty’s comeback and crypto market activity.

However, not all analysts are convinced that history will repeat itself. Some caution against over-optimism, citing fundamental differences between the current market environment and the conditions that fueled the GameStop frenzy in 2021.

Josh Gilbert, a market analyst at eToro, expressed skepticism regarding the likelihood of a sustained market surge akin to the events of last year.

Gilbert highlighted factors such as higher interest rates and a global cost of living crisis, which could dampen consumer sentiment and impact financial decisions.

Despite the skepticism, crypto enthusiasts remain bullish on the potential for Roaring Kitty’s return to catalyze another wave of market mania. With millions of users on platforms like WallStreetBets primed to take action, the possibility of a market surge cannot be discounted.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Dividends

Access Holdings to Pay N15.99 Billion Interim Dividend, Aig-Imoukhuede to Receive N1.151 Billion

Published

4 days ago

on

September 24, 2024

By

Aigboje Aig-Imoukhuede

Access Holdings Plc has announced an interim dividend of 45 kobo for every ordinary share of 50 kobo held in the company in the first half (H1) of 2024.

With 35.545 billion in outstanding shares, this translates to N15.99 billion in interim dividend. However, Aigboje Aig-Imoukhued, the chairman of Access Holdings, will take home N1.151 billion in dividend.

The chairman presently holds 119,231,715 direct shares and 2,438,256,720 indirect shares in the company, according to the company’s latest financial statement obtained by Investors King.

According to the lender, subject to appropriate withholding tax the dividend will be paid to shareholders whose names appear on the Register of Members at the close of business on Thursday, October 3, 2024.

The bank will pay dividends on Thursday, October 17, 2024 to all shareholders whose names appear on the Register of Members at the close of business on Thursday, October 3, 2024.

These shareholders are expected to have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

However, shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on https://theaccesscorporation.com/ and complete and submit it to either the Registrar, their respective Banks or any Access Bank Plc branch.

Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

Access Holdings grew profit after tax by 108% to N347.922 billion from N167.601 billion filed in H1 2023 while gross earnings jumped 133.5% from N940.311 billion in the first half (H1) of 2023 to N2.196 trillion in H1 2024.

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Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

Published

1 week ago

on

September 18, 2024

By

Nigerian Exchange Limited - Investors King

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

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Dividends

Guaranty Trust Holding Company Declares N1 Interim Dividend, Sets October 7 for Payout

Published

2 weeks ago

on

September 13, 2024

By

GTBank -Investors King

Guaranty Trust Holding Company Plc has announced its plan to pay a sum of N1 per share of 50 kobo as interim dividends, to all registered shareholders on October 7, 2024.

According to a recent statement issued by the company on NGX , “the dividend is subject to withholding tax deduction, and will be paid to shareholders whose names appear in the register as of September 25, 2024.”

In its recently released audited consolidated and separate financial statements for the period ended June 30, the Group reported profit before tax (PBT) of N1.004 trillion, becoming the first Nigerian financial institution to cross the N1 trillion mark in profit.

This represented a 206.6 percent increase over N327.4 billion recorded in the corresponding period that ended June 2023.

The group’s profit for the period was slated at N905.67 billion, a 222 percent increase from 280.52 recorded in the corresponding period that ended June 2023.

“On October 7, 2024, the dividend will be paid electronically to ordinary shareholders whose names appear on the Register of Members as at September 25, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly to their bank accounts,” the statement said.

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