GameStop Stock Rises Sharply as the “Roaring Kitty” Post Seems to Indicate a Large Holding

GameStop Stock As the Reddit account at the heart of 2021’s increase in meme stock shares posted on Sunday for the first time since April 2021, GameStop shares shot up in the Monday premarket.

Keith Gill, also known as Diep—Value on Reddit and Roaring Kitty on X and YouTube, purported to share a screenshot displaying a $181.4 million position in GameStop GME.

GameStop Stock Rises Sharply as the "Roaring Kitty" Post Seems to Indicate a Large Holding

GameStop Stock Stock and options at 2.34%. GameStop’s stock had a new surge, rising 102% to $47 in early trade on Monday.

Barron’s was unable to confirm the legitimacy of the screenshot, which purports to show an account with five million GameStop shares, or $115.7 million. The average price at which the shares were bought was $21.27. On Friday, the stock finished at $23.14. A further 120,000 call options that expire on June 21 are displayed in the screenshot. They stand for the option to buy shares for $20. The value of the options is $65.7 million.

GameStop Stock Gill additionally shared a photo of a green Uno “reverse” card on X. Rekindled interest in GameStop and other meme stocks is likely to result from the posts. When Gill posted on his X account for the first time since 2021 in May, it sparked a meme stock frenzy. On May 17, he uploaded a video that seemed to be a farewell.

In late-night trading on Sunday, GameStop’s shares increased 19% to $27.58 thanks to -4.30%, which permits 24-hour trading.

For his foresighted bullish wagers on GameStop, Gill gained notoriety on Reddit and other online forums. In 2021, the stock reached incredible heights because to a surge in demand for purchases from both individuals and funds aiming to suppress short sellers. On the Wallstreetbets site, Reddit users banded together and shared memes and song parodies promoting the campaign to purchase GameStop stock.

GameStop Stock Rises Sharply as the "Roaring Kitty" Post Seems to Indicate a Large Holding

GameStop Stock Gill last updated his GameStop position on April 16, 2021, before to the most recent post. According to the screenshot, he had $3.54 million in cash and $30.94 million in GameStop shares.

Gill’s latest post was published on the Wallstreetbets spinoff Soperton, which attracted members when Wallstreetbets administrators took action to restrict posts that were centered against GameStop, particularly those that were based on conspiracy theories.

Article Source barrons

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