Finimize - 🚀 GameStop goes again

What’s going on here?

"The Roaring Kitty" – the widely known godfather of the meme stock frenzy – once again sent shares of GameStop rocketing beyond reason.

What does this mean?

On Sunday, US trader Keith Gill – a.k.a. The Roaring Kitty – posted a screenshot on Reddit that seemed to show he’d bought $116 million in shares of the struggling video game retailer, along with $66 million in options that would let him snap up more. The big reveal initially sent shares up 105% – adding $8 billion to the company’s total value at the time. It also triggered a rally in other meme stocks, including AMC, SunPower, Beyond Meat, BlackBerry, and Reddit.

Why should I care?

For markets: Welcome to Vegas.

The whole flashy episode – GameStop’s second in two months – is just the latest sign of frothiness in the market. And it’s not just happening among meme stocks: penny stocks have been riding illogically high, too. Seven of the top ten most traded US shares last month had price tags of less than $1 – and none of them were profitable. Like their meme stock cousins, penny stocks are a dangerous, volatile part of the market. The surge in trading volume for these obscure assets suggests that some folks are coming to the market for fast-paced, high-stakes gambling.

The bigger picture: The tortoise outlasts the hare.

In markets, slow and steady often wins the race, no matter what your FOMO might tell you. Building wealth isn’t about chasing quick wins: it’s about consistent, reliable returns that tick higher as the years go by, helped by the unhurried magic of compounding interest. Just look at Warren Buffett: the master investor himself made about $131 billion of his total $132 billion net worth after his 50th birthday.

What’s going on here?

OPEC+ has agreed to keep its steep oil production cutbacks going for a while longer, in a combined push to keep prices from falling.

What does this mean?

The group of oil-producing countries is already churning out almost six million barrels per day less than it could be – strategically leaving global supply short by about 6%. The biggest single reduction, which takes roughly 3.7 million barrels per day out of the market, was set to expire at the end of this year, but will now drag on until the end of 2025. OPEC+ announced its new agreement on Sunday, just as Saudi Arabia kicked off a massive $12 billion sale of Aramco stock – a move that will help the kingdom bankroll some massive infrastructure improvements.

Why should I care?

Zooming out: Team players.

OPEC+ isn’t trying to sell less oil: the slick stuff is its bread-and-butter export. These shared cuts are designed to match supply to potentially falling demand and prevent a global surplus that would knock oil’s price lower. Problem is, the strategy only pays off if producers remain disciplined. And the organization’s already running into some trouble, with not everyone sticking to the plan: Russia, Iraq, and Kazakhstan pumped more crude than they were allowed to in April. Meanwhile, a surge in production from the US, Canada, Brazil, and other non-OPEC+ countries has weakened the group’s market share to less than 40%.

The bigger picture: Privileged position.

US oil and gas producers are no doubt rubbing their hands together at the news of OPEC+ extending its cuts. After all, they can – and likely will – quickly ramp up their output. What’s more, the latest flurry of deals in the industry shows that firms are gearing up to enjoy the benefits that come with scale: falling costs, rising profit, and a stronger position in the global market.