The GameStop (GME) stock price surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted to Reddit that he’s holding $181.4 million worth of GME stock and call options.
Gill, the trader widely cited as a major influence on the 2021 GME short squeeze, posted to Reddit on his “DeepFuckingValue” account on June 2 for the first time since April 2021.
He shared a screenshot showing he purchased 5 million GME shares for $115.7 million and put $65.7 million into call options, betting that GME would be at least $20 a share on June 21.
Gill’s screenshot shows he’s gained over $9.3 million on his GME holdings and is holding a loss of nearly $2.5 million on his call options.
Related: Robinhood nears settlement on GameStop, meme stocks suit
Robinhood’s overnight markets saw GME jump by 19.19% in 20 minutes to $27.58 after Gill’s Reddit post.
GameStop closed at $23.14 on Friday, May 31, with shares up 38.8% in 2024, according to Google Finance — seemingly boosted by Gill’s return.
Gill also cryptically posted a green Uno reverse card to X — adding to a series of arcane posts and memes he’s shared since his sudden return in May.
Gill was seen by some as the center of the GameStop saga during the COVID-19 pandemic, which saw Reddit traders flip the table on hedge funds making money by shorting the failing brick-and-mortar game store.
Their actions ended up sending the price of GameStop stock soaring over 1,000% in under a month.
Some also believe the GameStop short squeeze laid the groundwork for a massive surge in the price of memecoins such as Dogecoin and Shiba Inu after retail turned its attention elsewhere.
In the past, Gill was known to post on the r/wallstreetbets subreddit, now famous for its ties to the GameStop short squeeze saga, but the forum has moved away from GME content, with its moderator “zjz” even posting on June 3 that “this is not a GameStop subreddit.”
Gill’s latest post was made on the r/Superstonk subreddit, seemingly a forum to mostly speculate on GME.
His prior post to r/wallstreetbets on April 16 showed Gill owned 20,000 GME shares at a buy price of $55.17 a share. At the time he was holding a gain of $19.9 million.
Magazine: Meme coins: Betrayal of crypto’s ideals… or its true purpose?
