Keith Gill, the stock trader known for the GameStop (GME) short squeeze in 2021, at
Keith Gill, the stock trader known for the 2021 GameStop (GME) short squeeze, is on his way to becoming a billionaire as GME shares continue to climb.
Gill, also known by his online nicknames “Roaring Kitty” and “DeepFuckingValue,” revealed on June 2 that he had started trading GME again — this time, he had $180 million to play with.
The trader posted a $115.7 million position in GME stock and $65.7 million in call options on his Reddit account.
A trader revealing another position in GME has shaken the stock market yet again, sending GME shares up slightly. Robinhood overnight markets saw GME up 19% 20 minutes after the release, while GME closed with shares up 38.8% in 2024.
The price of GME currently stands at $46.55, an increase of 118% since Gill took office.
Roaring Kitty is on her way to becoming a billionaire
Global capital markets analysts at The Kobeissi Letter believe Gill is “on the cusp of becoming a billionaire” as GME stock surged to $67.50 per share in after-hours trading. According to stock analysts, if GME opened at its current levels, Gill’s position would be worth a total of $1 billion.
Analysts also pointed out that GME stock closed up 110% from June 6 and added $9.5 billion in market cap over the past 12 hours. This puts the company at a valuation of $20 billion, making it one of the 400 largest public companies in the United States.
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Jill under investigation for market manipulation
On June 3, Citron Research, a major short seller of GameStop, criticized Gill’s decision. The company accused Gill of manipulating markets at X’s position and claimed the trader was working with someone else. They wrote:
“We believe someone is supporting Jill – he could never have achieved this trading volume alone. Its stated finances do not support this trade. Investors will see right through this roaring Icarus.
On June 4, the Massachusetts Securities Commission reportedly opened an investigation into Gill’s movements. In an interview with CNBC, Lisa Braganca, a former SEC official in Chicago, said the investigation would likely focus on whether Gill was “moving the market.”
She explained that organizers will check to see if Gill is working with other people or engaging in illegal behavior. Bragança noted that the regulator could examine Gil’s communications, such as his text messages, emails and even his communications on social media platforms Reddit or X.
“They fear that this is an attempt to manipulate the market and make money through illegal disclosures,” Braganca added.
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