GameStop rallies overnight as Roaring Kitty reveals $180M GME position

GameStop (GME) jumped more than 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted on Reddit that he held $181.4 million worth 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 apparently showing he bought 5 million shares of GME for $115.7 million and invested $65.7 million in call options, betting that GME would cost at least $20 per share on June 21.

Gill’s June 2 Reddit post under his DeepFuckingValue account. Source: Reddit

Gill’s screenshot shows that he has earned more than $9.3 million on his GME holdings and is taking a loss of nearly $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 after Gill’s Reddit post.

GameStop closed at $23.14 on Friday, May 31, with shares up 38.8% this year, according to Google Finance – apparently boosted by Gill’s return.

GME’s year-to-date price saw a surge in mid-May after Gill suddenly started posting about X. Source: Google Finance

Gill also cryptically posted a green UNO reverse card on X – adding to a series of obscure messages and memes he has shared since his sudden return in May.

Gill was seen by some as the center of the GameStop saga during the COVID-19 pandemic, which saw Reddit traders turn the table on hedge funds making money by shorting the physical gaming store in bankruptcy.

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 increase in the price of meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) after retail trading turned its attention elsewhere.

In the past, Gill was known for posting on the subreddit r/wallstreetbets, now famous for its ties to the GameStop short squeeze saga, but the forum has moved away from GME content, with its moderator “zjz” even posting on June 3 that “This is not a GameStop subreddit.”

Gill’s latest post was posted on the r/Superstonk subreddit, apparently a forum intended primarily for speculating about GME.

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 the time, he held a $19.9 million win.

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