GameStop stock booster 'Roaring Kitty' has E*Trade between a rock and a hard place, strategist says
What specific advice did David Dietze give regarding Roaring Kitty's GameStop shares in the interview?
In the interview, David Dietze advised that Roaring Kitty should sell his GameStop shares. He stated that there are no fundamentals that support the high price that GameStop has reached and that it would be a good time for Roaring Kitty to take the profits he has made. Dietze also mentioned that he applauds Roaring Kitty for possibly getting lucky, but he doesn't recommend getting involved in the meme stock frenzy based on the lack of fundamental analysis to determine the next stop for the stock price.
What potential legal liabilities could Roaring Kitty face according to David Dietze's analysis?
According to David Dietze's analysis, Roaring Kitty could face potential legal liabilities if the screenshot of his ETrade account showing his GameStop position is not accurate or if he doctored it to show a larger amount than he actually holds. If this is the case, he could be accused of manipulating the market and making false statements. Additionally, ETrade could also face potential liability for providing a platform for someone who is making non-factual statements on social media.
How does David Dietze view the fundamentals of GameStop's stock price according to the interview?
In the interview, David Dietze, managing principal and senior investment strategist of Peapack Private Wealth Management, expresses his belief that there are no strong fundamentals supporting GameStop's current stock price. He advises against getting involved in the meme stock frenzy, as it is challenging to determine the next stop using fundamental analysis. Dietze points out that both AMC and GameStop have sold shares during the recent run-up, indicating that the companies believe their stock is overvalued. He suggests that the companies may be using the situation to raise capital by taking advantage of the inflated stock prices.