If the first “Game Stopped?” U.S. House Committee on Financial Services hearing wasn’t enough political theatre for you then you’re in luck, as Rep. Maxine Waters states there will be two more at some point in the future. Looking at the February hearing schedule reveals they are not planned for this month, however, so we’ll just have to stay put.

The second hearing will include: “Experts on all sides of the issue.” Who could this be? Are they going to bring in experts on short interest? Does “all sides of the issue,” indicate individuals from GameStop? Ryan Cohen? Who knows.

The third hearing is what worries us: “SEC & regulatory response/solutions.” History tells us that the little guy is going to be the one bearing the burden of new regulations, in the guise of, “safer trading for all.”


Roaring Kitty’s statements in the House Committee on Financial Services Hearing were honest, personable, and full of inside jokes.

I like the stock.

Most notable, when asked by Rep. Bill Huizenga whether he would still buy shares at the current price of roughly $45, Gill states that he still sees shares as an attractive investment.

Investing can be risky, and my particular approach to investing is rather aggressive and may not be suitable for anyone else. For me personally? Yes. 

Putting his money where his mouth is, Roaring Kitty’s Feb 19 2021 GME YOLO update reveals he has purchased 50,000 additional shares, effectively doubling his prior position of just 50,000 shares.



On Thursday, February 18, 2021, from 12:00 p.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry will host a virtual hearing entitled, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.” 


Founder and Chairman of Interactive Brokers Thomas Peterffy joins ‘Closing Bell’ on CNBC to discuss what would have happened to GameStop’s share price had brokerages not stepped in.

We have come dangerously close to the collapse of the entire system and the public seems to be completely unaware of that including Congress and the regulators.

On January 26th GME closed at $77/share, the following day it closed at $148, the following morning on January 28th the stock opened at $355 and traded up to $480.

At the same time, GME had 50M shares outstanding, and the short interest of 70M shares. In addition, there were about 1.5M calls, which would call for 150M shares.

When the longs repay their margin loans, and exercise the calls, their brokers would have been obligated by the rules as they are today to deliver to them 270M shares while only 50M shares existed.

When the shorts cannot deliver the shares, the broker representing the longs, must, by the rules of the system, go into the market and buy the shares at any price, pushing the price into the thousands.

Source: CNBC


CNBC’s Kate Rooney takes a look at the hearing over GameStop’s recent price action and Robinhood’s trading limits set for Thursday.

Among those advising him [Vlad Tenev, Robinhood CEO] ahead of his hearing is former SEC Commissioner Dan Gallagher, who joined Robinhood about a year ago, and two of Robinhood’s top communications team members joined from one of its regulators, FINRA. One was also on President Obama’s Treasury Communications Team. Robinhood has also reportedly hired Reginald Brown, a veteran Congressional Investigation lawyer.

Robinhood seems to have no issue paying for every advisor possible, while it claims to have halted buying of GameStop due to their inability to pay clearing houses. It is evident that Vlad Tenev and the team at Robinhood is more concerned with protecting their anticipated IPO, than letting the people trade.

No, not like that!


Gabe Plotkin of Melvin Capital’s testimony for the “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide,” taking place Feb. 18 at 12 p.m. ET. has been released. 

Plotkin begins his testimony by stating that has been “humbled” by the unprecedented events, as many investors “on all sides” have experienced losses.

I am humbled by these unprecedented events. Many investors on all sides have experienced losses. I am here today to share my personal experience and to be helpful in this conversation.

Plotkin then goes on to deny the claims that Citadel bailed them out, instead insisting that their cash injection was simply a proactive investment.

Melvin Capital was not “bailed out” in the midst of these events. Citadel proactively reached out to become a new investor, similar to the investments others make in our fund.

The cherry on top here is Gabe admitting that the extent of their fundamentals on shorting GameStop is that selling video games in physical stores is being overtaken. I’m surprised he didn’t just say it’s the next Blockbuster.

In fact, we had been short GameStop since Melvin’s inception six years earlier because we believed and still believe that its business model – selling new and used video games in physical stores – is being overtaken.

If your short position was based upon physical stores being an outdated business model, why would you not close your position upon Ryan Cohen, the man who beat Amazon at e-commerce with Chewy, purchasing 9% of the company? What about when RC Ventures sent a letter to the board urging a digital transition, and hired an attorney specializing in hostile takeovers?  What about when Cohen increased his stake? When the news released that Cohen and his Chewy team had been awarded 3 seats on the board, why not close the position then Gabe?

Greed. That’s why.

Read the full testimony here on house.gov

Keith “Roaring Kitty” Gill’s Testimony before the U.S. House Committee on Financial Services is out. In the statement, Gill touches on his initial investment thesis and how it has adapted to the developments over the years.

The investment I made was risky, but I was confident in my analysis, and I was willing to accept the loss if I was proven wrong. My timing was far from perfect, and many of the options contracts I purchased expired worthless because GameStop’s stock price remained depressed longer than I expected.

Gill also uses the testimony to touch on more personal matters, stating that after the unexpected loss of his sister Sara, it brought tremendous joy to share good news with his family for a change.

Ultimately my GameStop investment was a success. But the thing is, I felt that way in December far before the peak, when the stock was at $20 a share. I was so happy to visit my family in Brockton for the holidays and give them the great news – we were millionaires. That money will go such a long way for my family. We had an incredibly difficult 2020. In addition to dealing with COVID, we lost my sister Sara unexpectedly in June. It brought me tremendous joy to share good news with my family for a change. I am grateful to be able to give back to my community and to support my family, most of all my wife Caroline who has stuck with me through very tough times.

Gill concludes his statement with his thoughts on GameStop’s unique opportunity within the gaming industry moving forward.

As for what I expect moving forward: GameStop’s stock price may have gotten a bit ahead of itself last month, but I’m as bullish as I’ve ever been on a potential turnaround. In short, I like the stock. And what’s stunning is that, as far as I can tell, the market remains oblivious to GameStop’s unique opportunity within the gaming industry

Read the full testimony here on house.gov