💰Keith Gill, known as Roaring Kitty, earned $79 million on GameStop securities in one trading day
During trading on Monday, June 3, GameStop shares rose by 21% and closed at $28 per share. After that, Keith Gill made it clear on the Reddit platform that he still holds in his portfolio 5 million shares of the GameStop video game store chain and 120 thousand call options on the shares with a strike price of $20 and an expiration date of June 21. Gill's bet on GameStop earned him a paper profit of $33.6 million from stock gains and $54.3 million from options for the day. As a result, these positions increased in value by $79 million.
If GameStop's stock price rises above $20 on June 21, Gill will be able to exercise the options at $20 per share. As a result, he will receive another 12 million shares of GameStop. In total, he will own 17 million shares, making him GameStop's fourth-largest shareholder behind Vanguard, BlackRock and RC Ventures, according to FactSet. At Monday's closing price of $28 per share, his stake is valued at $476 million.
Keith Gill rose to prominence in 2021 after posting a series of videos that investors took as a signal to buy GameStop stock.