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‘Roaring Kitty’ GameStop suit suddenly withdrawn

Just a few days after it was filed, a lawsuit accusing renowned stock influencer Keith Gill, popularly known as “Roaring Kitty,” of engaging in a “pump and dump” scheme involving GameStop Corp. (NYSE: GME) shares was voluntarily dismissed shortly after its filing.

The proposed class action, initiated by GameStop shareholder Martin Radev on Friday in a New York federal court, charged Gill with securities fraud, alleging that he sought to manipulate the stock for personal gain. However, by Monday afternoon, Radev had voluntarily withdrawn the lawsuit. The dismissal was “without prejudice,” a legal term indicating that the suit could potentially be refiled in the future.

You can read more on the matter here.

What’s going on?

• Biden’s Betting Odds Plummet Post-Debate, Harris Emerges as Potential Alternative (theDeepDive)

• Hurricane Beryl: Record-breaking sign of warming world (BBC)

• Florida Prosecutors Treated Teenage Victims as ‘Criminals’ in 2006 Epstein Investigation, Newly Unsealed Transcripts Reveal (theDeepDive)

• Ozempic Linked to Rare Cases of Vision Loss in Harvard Study (Bloomberg)

• Venezuela’s Maduro Wants Dialogue with the US to Resume as Election Looms (theDeepDive)

• McDonald’s shortens breakfast hours in Australia in response to nationwide egg shortage (CNBC)

• Fewer People Feel Proud To Be Canadian Today Than In 2019 (theDeepDive)

• Canada to consider blocking factories in pushback on Chinese EVs (BNN)

• New Zealand’s Prospects As A New Mining Frontier (theDeepDive)

• Ottawa considering buying hotels to house growing number of asylum seekers (Globe)

What’s the latest?

• AI Emissions: Google’s greenhouse gas emissions have surged by 48% over the past five years, driven by increased energy consumption at data centers and supply chain emissions, according to its latest environmental report. In 2023, emissions reached 14.3 million metric tons of carbon dioxide equivalent, up 13% from the previous year. The infusion of AI into Google’s products has intensified energy demands, complicating its goal to eliminate carbon emissions by 2030.

• More Tariffs: Trudeau’s government has outlined potential measures to deter Chinese-made EVs from entering the Canadian market, including tariffs on imported vehicles and restrictions on Chinese investment in new Canadian factories. The consultation paper, released on Tuesday, specifies that tariffs would target finished vehicles rather than batteries or components.

• Anglo American: Anglo American is exploring options to continue the sale of its coal business after an explosion at its Grosvenor coal mine in Australia. These options include selling individual assets or excluding the damaged mine from the sale. The sale of the coal unit was part of a broader restructuring plan aimed at resisting a takeover bid from BHP Group. Other parts of the restructuring plan include spinning off its platinum unit and divesting from De Beers.

• US Elections: Vice President Kamala Harris is the primary alternative to replace President Joe Biden if he decides not to run for reelection, according to senior sources within the Biden campaign. While other names like Governors Gavin Newsom, Gretchen Whitmer, and Josh Shapiro have been mentioned, Harris is seen as the most viable option due to her high name recognition, existing campaign infrastructure, and strong polling.

• Russian Budget: Russia's federal budget saw a 41% year-on-year rise in oil and gas sales proceeds in the first half of 2024, amounting to 5.7 trillion roubles ($65.12 billion), driven by higher oil prices and a weaker rouble. Oil and gas revenues have historically been crucial, accounting for about a third to half of Russia's federal budget. The price of Russia's Urals oil blend averaged $69.1 per barrel, exceeding the $60 price cap, while the rouble weakened significantly.

A breakdown of Faraday Future Electric Dreaming

The stock market and stuff

• DOJ Charges and $4.7 Billion Spirit Deal Mark Tumultuous Week for Boeing (theDeepDive)

• GM to pay $145.8 million penalty after US finds excess emissions in 5.9 million vehicles (Reuters)

• China Says State Owns Rare Earth Resources (theDeepDive)

• Banks to publish crypto asset exposure from January 2026 (Reuters)

• Silvergate Pays $63 Million To Settle $9 Billion Compliance Oversight Charges (theDeepDive)

In the juniors

• Temas Resources Appoints Titanium-Vanadium Asset Expert To COO Role (theDeepDive)

• New Found Gold Begins Large Trenching Program At Iceberg Zone (theDeepDive)

• Patriot Battery Metals Sees Former CEO Blair Way Exit Leadership Team (theDeepDive)

• Golden Cariboo Enhances Focus On Establishing Geological Model At Quesnelle Gold Property (theDeepDive)

FULL DISCLOSURE: Temas Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Temas Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.