The GameStop (GME) stock saw a dramatic surge of over 19% in overnight trading following a post by Keith Gill, famously known as "Roaring Kitty" on Reddit.
The GameStop (GME) stock saw a dramatic surge of over 19% in overnight trading following a post by Keith Gill, famously known as "Roaring Kitty" on Reddit. Gill, a key figure in the 2021 GME short squeeze phenomenon, announced he holds $181.4 million worth of GameStop stock and call options. Following this news, the GameStop (GME) memecoin on Solana surged more than 300% to reach a market cap of $105 million. It is up an astonishing 2850% in the past month, since Roaring Kitty returned by posting on X.
On June 2, Gill made his first Reddit post since April 2021, using his "DeepFuckingValue" account. He shared a screenshot purportedly showing his acquisition of 5 million GME shares for $115.7 million, alongside a $65.7 million investment in call options, betting that the stock would hit at least $20 per share by June 21. The screenshot indicated that Gill has made a profit of over $9.3 million on his GME holdings while currently sitting on a loss of nearly $2.5 million from his call options.
Following Gill's post, GameStop's stock price on Robinhood's overnight markets spiked by 19.19% within 20 minutes, reaching $27.58. This jump came after the stock closed at $23.14 on Friday, May 31. The shares have risen 38.8% this year, a gain seemingly driven by Gill's recent reappearance.
Gill's activity is not confined to Reddit. He has also been posting enigmatic content on X, including a cryptic green UNO reverse card, contributing to a series of mysterious posts and memes since his sudden return in mid-May. This return has evidently reinvigorated interest and speculation around GameStop.
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