GameStop rallies overnight as Roaring Kitty reveals $180M GME position
GameStop (GME) 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 apparently 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.
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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% this year, 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 has been 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 meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) 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.
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