GameStop

Reddit

<ul>
 <li>According to Gill’s snapshot, he has made about $2.5 million from his call options.</li>
 <li>The development sent the stock price soaring by more than 19% in overnight trading.</li>
</ul>
Keith Gill, better known by his Reddit handle “Roaring Kitty,” revealed that he owns $181.4 million worth of <a href="https://thenewscrypto.com/retail-gaming-giant-gamestop-pulls-the-plug-on-nft-marketplace/" target="_blank" rel="noopener noreferrer nofollow">GameStop</a> (GME) stock and call options, sending the stock price soaring by more than 19% in overnight trading.
The trader commonly acknowledged as having a significant impact on the 2021 GME short squeeze, Gill, made his first <a href="https://thenewscrypto.com/reddit-co-founder-foresees-a-collision-of-ai-and-blockchain-technologies/" target="_blank" rel="noopener noreferrer nofollow">Reddit</a> post since April 2021 on June 2 using his “DeepFuckingValue” account.
<h3 class="wp-block-heading" id="h-banking-on-substantial-turnaround">Banking on Substantial Turnaround</h3>
He uploaded a screenshot demonstrating that he invested $65.7 million in call options and bought 5 million GME shares for $115.7 million, wagering that the company’s share price would reach at least $20 on June 21.
According to Gill’s snapshot, he has made about $2.5 million from his call options and over $9.3 million from his GME holdings. Gill’s Reddit post caused GME to surge 19.19% in 20 minutes, reaching $27.58, on <a href="http://robinhood.com" target="_blank" rel="noopener noreferrer nofollow">Robinhood’s</a> overnight markets.
Shares of GameStop rose 38.8% in 2024, closing at $23.14 on May 31, perhaps helped along by Gill’s comeback. As part of his series of esoteric messages and memes since his unexpected reappearance in May, Gill also shared a green Uno reverse card with X in a mysterious manner.
Traders on Reddit turned the tables on hedge funds that had been profiting from shorting the doomed brick-and-mortar game store during the COVID-19 outbreak; some regarded Gill as the central figure in this narrative. Because of what they did, GameStop’s stock price increased by more than 1,000% in less than a month.
After retail focused elsewhere, some think the GameStop short squeeze set the stage for a huge surge in the price of memecoins like Shiba Inu and Dogecoin.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/crypto-market-highlights-in-may-2024-recounted/" target="_blank" rel="noopener noreferrer nofollow">Crypto Market Highlights in May 2024 Recounted</a>

Roaring Kitty Reveals $181.4M GameStop Position, Sparking Overnight Surge

Table of Contents

TheNewsCrypto

Other articles published on Jun 3, 2024

New Solana Meme Coin, Innocent Trump (INOTRUMP), Will Skyrocket 14,000% As KuCoin Listing Announc...

Investing In Notcoin (NOT) Today Could Deliver Over 4000% in Gains

Time To Buy Chiliz (CHZ)? Analyst Sets Sights On $0.43

JASMY Price Dips On Massive Dumping By Crypto Firm

OKX Users Fell In Scammers’ Trap, Collective Loss of $5 Million

Trading Veteran Predicts Bitcoin Will Top at $150,000 in September 2025

Join our free newsletter for daily crypto updates!