According to Gill’s snapshot, he has made about $2.5 million from his call options.
The development sent the stock price soaring by more than 19% in overnight trading.
Keith Gill, better known by his Reddit handle “Roaring Kitty,” revealed that he owns $181.4 million worth of GameStop (GME) stock and call options, sending the stock price soaring by more than 19% in overnight trading.
The trader commonly acknowledged as having a significant impact on the 2021 GME short squeeze, Gill, made his first Reddit post since April 2021 on June 2 using his “DeepFuckingValue” account.
Banking on Substantial Turnaround
He uploaded a screenshot demonstrating that he invested $65.7 million in call options and bought 5 million GME shares for $115.7 million, wagering that the company’s share price would reach at least $20 on June 21.
According to Gill’s snapshot, he has made about $2.5 million from his call options and over $9.3 million from his GME holdings. Gill’s Reddit post caused GME to surge 19.19% in 20 minutes, reaching $27.58, on Robinhood’s overnight markets.
Shares of GameStop rose 38.8% in 2024, closing at $23.14 on May 31, perhaps helped along by Gill’s comeback. As part of his series of esoteric messages and memes since his unexpected reappearance in May, Gill also shared a green Uno reverse card with X in a mysterious manner.
Traders on Reddit turned the tables on hedge funds that had been profiting from shorting the doomed brick-and-mortar game store during the COVID-19 outbreak; some regarded Gill as the central figure in this narrative. Because of what they did, GameStop’s stock price increased by more than 1,000% in less than a month.
After retail focused elsewhere, some think the GameStop short squeeze set the stage for a huge surge in the price of memecoins like Shiba Inu and Dogecoin.
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