Roaring Kitty buys another 4M GME stocks, birthing conspiracy theory
Stock trader Keith Gill, famous for his involvement in the GameStop (GME) short squeeze, has bought more shares of GME.
Gill, known online as “Roaring Kitty” and “DeepFuckingValue,” posted on June 13 that he bought another 4 million shares of GME. This brings the trader’s total shares to over 9 million, worth about $262 million when GME closed that day.
The trader also closed his GME call options set to expire next week.
Community thinks Roaring Kitty might join the GME board
As Gill’s shares breached the 9 million mark, community members started to speculate that the stock trader may be preparing to join the gaming company as a member of its board of directors.
Citing a GameStop filing, a stock trader believes that the newly accumulated shares make Gill the fourth-largest shareholder of GME. The trader thinks the stock’s momentum might bring GME’s price to $200. Meanwhile, another trader predicted that Roaring Kitty would join the board and increase the price.
Related: Citron no longer short on GME, cites ‘market’s irrationality’
Jacob Slade, the founder of Mt. Zion Market Ventures, said that Gill currently holds the same number of shares that GameStop CEO Ryan Cohen disclosed when he joined the company. Furthermore, a post on Gill’s official Twitter account of a meme from the sitcom The Office further fueled the conspiracy.
Slade also claims that GameStop added an Easter egg to its website, referencing Roaring Kitty. The executive also speculated that GameStop’s annual meeting was moved to June 17 because it was National Take Your Cat to Work Day. The executive believes that this may be a reference to GameStop onboarding Gill.
Roaring Kitty’s GME resurgence
On June 2, GME prices rallied as Gill revealed a $180 million position in the stock. On his Reddit, Gill unveiled a $115.7 million position in GME shares and $65.7 million in call options. The new revelation shook the market, causing an upward tick in the stock's price. Robinhood saw GME jump by 19% just 20 minutes after Gill posted the update.
As the prices rallied, community members speculated that Gill’s shares might eventually be worth $1 billion if the prices open at their after-hours trading rates of $67.50 on June 7. However, the prices did not reach that price point. Currently, GME sits at $29 a share.
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