By Gunjan Banerji
Keith Gill disclosed a GameStop stake of nine million shares late Thursday in a Reddit screenshot, his latest "GME YOLO Update."
A stake that size would vault Gillwho appears to have made his riches in his E*Trade account while sharing trades and memes on Reddit and Xinto the company of some of the biggest investment institutions in the world.
Only three other investors own more than nine million shares of GameStop: BlackRock, Vanguard and RC Ventures, the investment firm of GameStop Chairman and Chief Executive Ryan Cohen. That is based on FactSet data as of June 7.
Gill, a.k.a. "Roaring Kitty", seems to have sold out of his June options, which were tied to GameStop stock jumping to $20. He has moved into even more of the shares, doubling down on the retailer.
Individual and institutional investors alike were wondering whether he would dump the options.
His latest screenshot showed a position worth more than $260 million. It is a stunning ascent for Gill, who went quiet after making a fortune trading the meme stock in January 2021 (read more about that here).
He re-emerged around a month ago by posting memes on X, then hosted his first YouTube livestream last Friday, in which he said he was still bullish on GameStop, just as in 2021.
Now, everybody is wondering: What's next for Roaring Kitty?
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(END) Dow Jones Newswires
June 14, 2024 05:50 ET (09:50 GMT)
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