Keith Gill, or ‘Roaring Kitty’, shared a screenshot on Reddit that showed he may hold five million shares of GameStop.
GameStop shares have soared once again following speculation that the man at the center of the pandemic meme stock craze owns a large number of the video game retailer’s shares that could be worth millions.
GameStock shares jumped more than 37 percent in Monday morning trading.
Keith Gill, better known as “Roaring Kitty” on the social media platforms YouTube and X, also goes by the name Deep F****** Value on Reddit. On Sunday night, the Reddit account shared a screenshot on the r/SuperStonk forum that people are speculating could be a screenshot of the shares and call options that Gill holds in GameStop.
The image showed that Gill may hold five million shares of GameStop that were worth $115.7 million at Friday’s closing price. The screenshot also showed 120,000 call options on GameStop with a $20 strike price that expire on June 21. The call options were purchased for about $5.68 each.
Additionally, Gill’s X account posted an image of a reverse card from the popular game Uno on Sunday night. There was no text accompanying the image.
This latest activity comes about three weeks after Gill appeared online for the first time in three years, driving up the price of GameStop at the time. In May, the “Roaring Kitty” account posted an X image of a man sitting forward in his chaira meme used by gamers when things are getting serious.
The post on FYI, here’s a quick 4 minute video I made to summarize the $GME bull case.
GameStop In 2021, a video game retailer struggled to survive as consumers quickly switched from discs to digital downloads. Big Wall Street hedge funds and major investors were betting against it, or shorting its shares, believing that its shares would continue a drastically downward trend.
Gill and those who agreed with him changed the trajectory of a company that appeared to be on the brink of bankruptcy by buying thousands of shares of GameStop in the face of almost every accepted metric that told investors the company was in serious trouble.
This began what is known as a “short squeeze,” when large investors who had bet against GameStop were forced to buy its fast-growing shares to offset their huge losses.
Others joining the meme surge on Monday include movie theater chain AMC Entertainment Holdings, which grew more than 12%. Headphone maker Koss Corp rose nearly 6 percent and BlackBerry, once the dominant smartphone maker, rose more than 2 percent.
This story originally appeared on Aljazeera.com read the full story
