Shares of GameStop (GME) are surging after meme trade influencer 'Roaring Kitty' posted a screenshot on social media showing a $175 million position in the company's stock. Matt Kohrs, host of The Matt Kohrs Show, joins Wealth! to share his insights on the frenzy surrounding this development.
Kohrs distinguishes trading from investing, stating that the two are "completely different sports that happen to be played on the same field." When it comes to GameStop, Kohrs acknowledges that while the stock is currently generating profits for investors, he cautions against chasing the movement, saying it's "much more of an active trade, not an investment."
However, when asked about the longevity of the meme trade phenomenon, Kohrs expresses a bullish outlook. "I actually believe the momentum could be carried for a while ... Momentum's going to beget more momentum," he tells Yahoo Finance.
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22 авг 2024
