CDS Crypto News GameStop Soars as ‘Roaring Kitty’ Keith Gill Makes Bold Bet
Crypto News

GameStop Soars as ‘Roaring Kitty’ Keith Gill Makes Bold Bet

50
GameStop

GameStop Soars as ‘Roaring Kitty’ Keith Gill Makes Bold Bet

Keith Gill, the trader famously linked to the 2021 GameStop (GME) short squeeze, has made a dramatic return to Reddit, claiming he’s placed a significant bet on GameStop, causing the stock’s price to surge in overnight trading.

GameStop’s stock surged over 19% in overnight trading after Keith Gill, known by his online aliases “Roaring Kitty” and “DeepFuckingValue,” posted on Reddit that he holds $181.4 million worth of GME stock and call options. This marked his first post on the platform since April 2021.

Gill shared a screenshot indicating he purchased 5 million GME shares for $115.7 million and invested $65.7 million in call options, predicting that GME would be at least $20 per share by June 21.

GameStop
GameStop Soars as 'Roaring Kitty' Keith Gill Makes Bold Bet 1

According to the screenshot, Gill has already gained over $9.3 million on his GME holdings, despite currently holding a loss of nearly $2.5 million on his call options.

Following Gill’s Reddit post, GameStop’s stock price on Robinhood’s overnight markets jumped by 19.19% in just 20 minutes, reaching $27.58.

On Friday, May 31, GameStop closed at $23.14, with shares up 38.8% for the year, seemingly buoyed by Gill’s reappearance.

Gill also posted a cryptic green UNO reverse card on X, adding to a series of enigmatic posts and memes since his sudden return in May.

GameStop
GameStop Soars as 'Roaring Kitty' Keith Gill Makes Bold Bet 2

During the COVID-19 pandemic, Gill was perceived as a central figure in the GME saga, where Reddit traders upended hedge funds profiting from shorting the struggling brick-and-mortar game retailer. Their actions resulted in GameStop’s stock price soaring over 1,000% in less than a month.

Many believe that the GMW short squeeze laid the foundation for the massive rise in meme coins such as Dogecoin and Shiba Inu as retail investors shifted their focus.

In the past, Gill frequently posted on the r/wallstreetbets subreddit, now notorious for its connection to the GameStop short squeeze. However, the forum has since distanced itself from GME content. On June 3, the moderator “zjz” declared, “this is not a GameStop subreddit.”

Gill’s recent post was made on the r/Superstonk subreddit, which seems to primarily discuss GME speculation.

His last post on r/wallstreetbets on April 16 revealed that he owned 20,000 GME shares at a purchase price of $55.17 per share, holding a gain of $19.9 million at that time.

GameStop

1 Comment

Leave a Reply

Related Articles

Crypto News- Ether and Meme Coins Lead the Recovery as Bitcoin Stays Muted

Here's a look at the latest price movements in the crypto markets...

Bitcoin Whales Liquidate $1B in BTC Over the Past Fortnight: CryptoQuant

Selling during this period aligns with net outflows observed from U.S.-listed bitcoin...

Crypto News – Stablecoin Transfer Volume Skyrockets: Surges 16-Fold Over Last 4 Years

The rise in stablecoin usage suggests increasing cryptocurrency adoption and a maturing...

Meme Coins and Macro: Peak Stress Among U.S. Credit Card Holders Since 2012

The increase in credit card loans overdue for more than 90 days,...