Roaring Kitty's Return Sparks 20% Surge in GameStop Stock, $200 Million Position Halted

Jun 3, 2024, 01:04 AM

Keith Gill, known as Roaring Kitty and DeepFuckingValue, has returned to social media after a 16-day hiatus, revealing a substantial position in GameStop (GME). Gill disclosed holdings worth approximately $200 million, including $115 million in GME shares and $65 million in call options with a $20 strike price expiring on June 21. His return and disclosure have caused GME stock to surge by 20% overnight, reaching $50 million in value. Gill's position constitutes around 5.6% of GME's current market cap. This is his first update since 2019, when he initially invested $53,000. The stock has been temporarily halted on Robinhood due to the sudden spike in trading volume.