GameStop (GME) shares rose more than 19% in overnight trading after Keith’s release
Shares of GameStop (GME) rose more than 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted on Reddit that he owned $181.4 million dollars 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 that appears to show he bought 5 million shares of GME for $115.7 million and put $65.7 million in call options, betting that GME would cost at least $20 per share on June 21.
Gill’s screenshot shows that he has earned more than $9.3 million on his GME holdings and is taking a loss of about $2.5 million on his call options.
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Robinhood overnight markets saw GME jump 19.19% in 20 minutes to $27.58 following 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 fueled by a generational comeback.
Gill also cryptically posted a reverse green UNO card on X – adding to a series of mysterious messages and memes he has shared since his surprise return in May.
Gill is seen by some as the center of the GameStop saga during the COVID-19 pandemic, which saw Reddit traders turn the tables on hedge funds making money by selling the bankrupt gaming store.
Their actions ended up driving GameStop’s stock price up more than 1,000% in less than a month.
Some also believe that the GameStop short squeeze laid the groundwork for a massive price rally in memes like Dogecoin (DOGE) and Shiba Inu (SHIB) after retail trading turned its attention elsewhere.
In the past, Gill has been known to post on the r/wallstreetbets subreddit, now famous for its ties to the short-lived GameStop saga, but the forum has avoided GME content, with its moderator “zjz” even posting on June 3 that “This is not a GameStop subreddit.
Gill’s most recent post was posted on the subreddit r/Superstonk, which appears to be a forum primarily devoted to GME speculation.
His previous post on r/wallstreetbets on April 16 showed that Gill owned 20,000 shares of GME at a purchase price of $55.17 per share. At that time, he earned $19.9 million.
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