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GameStop Shares Surge 100% as "Roaring Kitty" Trader Posts Account Showing $116 Million Position

Tiger Newspress06-03

GameStop jumped 100% in premarket trading. AMC gained 30%, Faraday Future rose 13% in premarket trading. Meme stock GameStop is rallying again on speculation Keith Gill, the man who inspired 2021′s epic short squeeze, could currently have a huge position in the video game retailer.

Gill, who goes by DeepF------Value on Reddit and Roaring Kitty on YouTube and X, reappeared Sunday night, posting a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options.

The Reddit trading crowd’s favorite trader holds 5 million shares of GameStop worth $115.7 million as of Friday’s closing price, according to the account snapshot posted on Reddit’s r/SuperStonk forum. The account also showed a position of 120,000 call options in GameStop with a strike price of $20 that expire on June 21st that were purchased for about $5.68 each. GameStop shares closed Friday at $23.14.

The post was not independently verified. Notably, he didn’t post on the infamous WallStreetBets chatroom where he posted all of his trade updates at the height of the GameStop mania over three years ago. Though the username is the same one used.

Around the same time Sunday night, Gill posted a cryptic picture of a reverse card in the game “Uno” on X, which quickly garnered near 30,000 likes.

Gill’s first return to social media three weeks ago sparked an eye-popping rally in GameStop with shares more than doubling in May alone. At the time, he simply posted a picture of a man in a chair leaning forward, but that was enough to trigger a buying frenzy among amateur traders.

GameStop took advantage of the May rally by raising more than $900 million in a stock sale.

The investor was a former marketer for Massachusetts Mutual Life Insurance. In 2021, through YouTube videos and Reddit posts, Gill encouraged a band of retail traders to squeeze out short selling hedge funds in GameStop.

The action got so wild at one point that brokerages including Robinhood had to restrict trading in the stock as it blew up their clearinghouse margin. The mania also led to a series of congressional hearings, featuring Gill, around brokers’ practices and gamifying retail trading.

GameStop is still struggling with a transition to online gaming away from brick-and-mortar video game purchases with investors banking on CEO Ryan Cohen to eventually reinvent the company.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment1

  • HJKJ
    ·06-03
    If people short it then this guy will lose nearly 200M. Not sure why would anyone want to put their positions out there on a meme stock
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    • AgxmReplying toBenjee
      Why would i short it now.
      06-03
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    • BenjeeReplying toAgxm
      Short it 😂
      06-03
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    • AgxmReplying toHJKJ
      So how you know it is not paper trading?😂
      06-03
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