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EXCLUSIVE: Andrew Left Has 'Small Position' Short In GameStop As Roaring Kitty Nears YouTube Return — 'I'm Not Surprised By Today's Move Whatsoever'
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EXCLUSIVE: Andrew Left Has 'Small Position' Short In GameStop As Roaring Kitty Nears YouTube Return — 'I'm Not Surprised By Today's Move Whatsoever'
Jun 6, 2024 2:58 PM

GameStop Corp ( GME ) shares soared Thursday as news circulated amongst the financial community that Keith Gill, aka Roaring Kitty, was returning to YouTube with a livestream on June 7.

Short seller and Citron Research founder Andrew Left remains short on GameStop ( GME ).

What Happened: In a recent exclusive interview with Benzinga, Left revealed he was once again short GameStop ( GME ) shares after the video game retailer saw shares soar with the return of Roaring Kitty on social media.

On Thursday, Left echoed that trade telling Benzinga that he is still short, emphasizing it is a small position and it’s manageable.

"I have a small position," Left told Benzinga. "Have to have respect for the market."

When asked about the recent volatility stemming from Roaring Kitty's recent trade disclosure on Reddit and his pending return on YouTube, Left said it was expected.

"I'm not surprised by today's move whatsoever."

While many will likely tune into Roaring Kitty's first livestream on YouTube in around three years, Left is skeptical that it is Roaring Kitty's money.

"I don't think it's him. I could be wrong. I don't think it's his money."  

Left said that Gill didn't have enough capital to make the recent trade in GameStop ( GME ), unless he turned $35 million into hundreds of millions of dollars in the last three years and didn't tell anyone about it.

In recent tweets by Citron Research, Left said his gut was a "mysterious crypto backer" could be behind the trading activity of Roaring Kitty.

The short seller also questions why Gill, who highlighted the thesis of GameStop ( GME ) being undervalued, would be putting more money into the stock with the fundamentals of the company decelerating over the last three years.

"Doesn't that seem a bit foolish?"

Left also questioned the 4.9% stake, which is right under the threshold of needing a 13G filing with the SEC.

"Something smelly, but I think the Feds will find out real fast."

Related Link: Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?

What's Next: Left said he "might" tune into the Roaring Kitty livestream on Friday.

The short seller was critical of Roaring Kitty after the most recent trade reported did not include an updated thesis on why he was buying shares of GameStop ( GME ).

"It seems Kitty has transitioned from a relatable investor who eagerly shared his investment insights to just another rich stock promoter with a flashy car collection," Left tweeted.

On Thursday, Roaring Kitty shared a "GME YOLO update" on Reddit. The GameStop ( GME ) position is now valued at $586.46 million, according to the post.

Aside from the Roaring Kitty news, Left said GameStop ( GME ) already said what it will do with the money raised from the recent share offering.

Left said the money will be invested by GameStop ( GME ) CEO Ryan Cohen thanks to a new change made the company.  

The short seller said it's unclear if investors will finally hear if Cohen made any trades under the new program when quarterly earnings are reported.

GME Price Action: GameStop ( GME ) shares were up 48.01% to $46.55 on Thursday at market close versus a 52-week trading range of $9.95 to $64.83.

Read Next: EXCLUSIVE: Andrew Left Shorted GameStop — Here Are His 3 Long Stock Ideas

Watch Benzinga’s recent interview with Andrew Left below:

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