GameStop

Roaring Kitty

GameStop (GME) stock could make Keith Gill, known as “Roaring Kitty,” the first GME billionaire as early as this week while short sellers are bleeding profits.
Gill, the trader widely credited with kickstarting the GameStop saga, is currently up over $300 million in his GME position.
Provided that GameStop’s rally continues, Gill could become a billionaire as soon as this week, <a href="https://x.com/KobeissiLetter/status/1797590741830500808" target="_blank" rel="noopener nofollow">according</a> to a June 3 X post from The Kobeissi Letter:
<blockquote data-ct-non-breakable="true">
 “Roaring Kitty” is currently up over $300 million in his $GME position. The stock has now added $5 BILLION of market cap today alone. He could become a billionaire this week.”
</blockquote>
The prediction follows a 74% price surge for the GME stock in pre-market trading on Monday, <a href="https://www.google.com/finance/quote/GME:NYSE" target="_blank" rel="noopener nofollow">according</a> to Google Finance data.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/884e4e88-33f9-43dd-bec1-9178f7c090d6.png" alt="" title="">
 <figcaption style="text-align: center;">
 GME/USD, one-day chart. Source: Google Finance
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<h2 data-ct-non-breakable="true" id="roaring-kitty-reveals-180-million-gme-position">Roaring Kitty reveals $180 million GME position</h2>
Interest in the GME stock was renewed this week after Gill posted on Reddit that he is holding $181.4 million worth of GME stock and call options, <a href="https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/" target="_blank" rel="noopener nofollow">according</a> to a June 2 post.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/12e52f67-fad4-4ebe-9cfa-178842a9c366.png" alt="" title="">
 <figcaption style="text-align: center;">
 Roaring Kitty, GME position. Source: Reddit
 </figcaption>
</figure>
Gill’s screenshot revealed that he purchased five million GME shares for $115.7 million and put $65.7 million into <a href="https://cointelegraph.com/explained/covered-call-options-strategy">call options</a>, betting that GME would be at least $20 a share on June 21.
GME stock price is up over 25% in the past five days and over 40.5% during the past month, trading at $23.13 as of 11:45 am UTC.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/e8878d12-180d-4b4c-b32f-054ca82022d0.png" alt="" title="">
 <figcaption style="text-align: center;">
 GME/USD, one-month chart. Source: Google Finance
 </figcaption>
</figure>
When the first GameStop short squeeze started in 2021, GME stock soared over 1,000% within a month.
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<h2 data-ct-non-breakable="true" id="gme-short-sellers-are-getting-wrecked">GME short sellers are getting “wrecked”</h2>
<a href="https://x.com/S3Partners/status/1796252096712556914" target="_blank" rel="noopener nofollow">According</a> to a May 30 X post by financial data provider S3 Partners, GameStop short sellers are getting “wrecked” and have taken a month-to-month loss of approximately $1.4 billion.&nbsp;
The Kobeissi Letter said on June 3 on X that Citron Research was the latest large firm to announce its short GME position.&nbsp;
<blockquote data-ct-non-breakable="true">
 “Citron Research was the latest short seller to announce a short position. On May 16th, Citron announced that they are short $GME again. In 2021, Citron lost over $100 million shorting $GME.”
</blockquote>
In January 2021, Citron Research was forced to close out its short GME positions at a loss due to the retail buying frenzy kickstarted by Gill.
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Roaring Kitty’s GameStop gains soar to $300M, billionaire status near

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