GameStop Soars After Roaring Kitty Unveils $180M Stake
3 min read
GameStop Soars After Roaring Kitty Unveils $180M Stake
GameStop (GME) experienced a dramatic rise of over 19% in after-hours trading following an announcement from Keith Gill, also known as “Roaring Kitty,” on Reddit. Gill revealed that he maintains $181.4 million in GME stock and call options. Widely recognized for his pivotal role in the 2021 GameStop short squeeze, Gill made this post to his “DeepFuckingValue” account on June 2, marking his first activity there since April 2021.
In his Reddit post, Gill included a screenshot purportedly showing his purchase of 5 million GameStop shares for $115.7 million and an addition of $65.7 million into call options. These call options are essentially bets predicting that GameStop’s share price would climb to at least $20 by June 21. The screenshot also indicated that Gill had already made gains of over $9.3 million on his GameStop holdings, despite suffering a nearly $2.5 million loss on his call options.
Following this post, GameStop’s stock soared in Robinhood’s after-hours trading, jumping by 19.19% in just 20 minutes, bringing the share price to $27.58. On the previous Friday, May 31, GameStop had closed at $23.14. Remarkably, shares had already surged by 38.8% this year, an upswing seemingly catalyzed by Gill’s reappearance and endorsement.
Gill accompanied his financial update with a cryptic post featuring a green UNO reverse card on another platform, adding to the enigmatic and often meme-infused style he is known for. This post is part of a series of mysterious updates and memes that Gill has been sharing since his surprising return to social media in May.
Keith Gill gained notoriety in the financial world primarily because of his significant role during the GameStop short squeeze of 2021. His advocacy and sharing of his trading strategies played a major part in the dramatic rise of GameStop’s stock price, which consequently inflicted substantial losses on several hedge funds that had bet against the stock.
The impact of his latest post was immediate and substantial, causing a near-frenzy in after-hours trading as investors reacted to the new development. Robinhood, the trading platform where many retail investors operate, saw GameStop shares spike shortly after Gill’s update went live on Reddit.
The overall sentiment in the market hints at a renewed interest and optimism regarding GameStop’s potential. Investors seem to be taking cues from Gill, who appears confident in the future performance of the company’s stock. His extensive investment in both shares and call options suggests that he believes in the stock’s potential to rise significantly.
While Gill’s latest move and the market’s reaction are reminiscent of the events from 2021, it remains to be seen how this will play out in the longer term. If history is any indication, the influence of key figures like Gill can have profound and sometimes unforeseen impacts on stock performance, especially in heavily scrutinized and volatile stocks like GameStop.
As investors continue to monitor the situation closely, the financial community will be watching to see if Gill’s latest bet pays off and what subsequent effects this will have on the broader market, particularly among retail traders and those involved in heavily shorted stocks.
Are we seriously going to trust one guy to dictate the market again? Seems reckless to me.
This kind of speculative trading undermines the integrity of the market.
Wow, Keith Gill is back with a bang! So excited to see what happens next with GME!
Every time he shows up, chaos follows. This is not sustainable investing.
It’s just speculation, not real growth or value. People need to wake up.
Keith Gill’s belief in GME is inspiring. Ready for some more gains! 💰📈
How many more people need to get burned before we stop glorifying this guy? 🔥
What a rollercoaster! Love seeing Keith Gill still supporting GME. Hats off to Roaring Kitty!
Gill’s posts might be funny, but they’re going to leave a lot of people financially devastated. 💔💸
Why do people keep falling for these pump-and-dump schemes?
This is just ridiculous. Market manipulation at its finest.
Keith Gill’s $181.4M investment in GME says it all. Superbullish vibes right now. 💎🌙
Keith Gill betting big on GME has me feeling super confident about my shares. Let’s go! 🚀💰
This type of behavior is what’s wrong with the stock market today.
Keith Gill just reignited the GME flame. Buckle up, everyone!
This isn’t investing. It’s gambling.
Didn’t we learn anything from last time? This is just a recipe for disaster.
Incredible timing by Keith Gill! GME to the moon once again!
Keith Gills faith in GME is rejuvenating the market. Here we go again!
Another hype-fueled bubble thanks to Roaring Kitty. This can’t end well for most people.
Keith Gills confidence in GME is contagious! Looks like were in for another wild ride.
Just another get-rich-quick scheme that’s going to leave many in ruins.
Keith Gills reappearance is the best thing to happen to GME this year! Lets moon!
Seeing Keith Gill back with new investments is electrifying! GME stock looking strong! ⚡📈
People are acting like sheep, blindly following this guy. It’s madness.
Watching GME soar again is thrilling. Thanks, Keith Gill!
So hyped to see Keith Gill back in action. GME stock holders, lets go!
Excited to see where this goes. Keith Gills confidence in GME keeps my hopes high.
Roaring Kitty strikes again! GME investors are in for a treat!
jump?! Roaring Kitty is a market wizard. Long live GME!
Holding strong because Keith Gill believes! So thrilled to be part of this ride. 💎🚀
Keith Gills endorsement of GME just took things to another level. Cant wait to see what happens next!
rise in after-hours trading! Roaring Kittys still got the magic touch.
Here we go again with the GameStop saga! How many investors are going to lose money this time?
Unbelievable energy in the market right now, all thanks to Roaring Kitty!
Roaring Kitty never ceases to amaze! So glad I held onto my GME shares. 🌈🚀
A green UNO reverse card post from Keith? Love the cryptic messages, and the market does too!
Another epic chapter in the GME saga. Keith Gills update is a game-changer!
Can’t believe how quickly GME shot up after Keith’s post. This guy is a legend! 💰🔥
in 20 minutes! Keith Gill’s update is making waves. Strap in, folks! 🚀🌊