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Roaring Kitty's Return Sparks 90% Overnight Surge in GameStop with $210 Million Position

Jun 3, 2024, 02:56 AM

Keith Gill, known as 'Roaring Kitty' and 'DeepFuckingValue,' has returned to social media, revealing a substantial position in GameStop (GME) stock and options. Gill disclosed that he holds $115.7 million worth of GameStop shares and $65 million in call options with a $20 strike price expiring on June 21, 2024. This revelation has caused GameStop's stock to surge up to 90% overnight, with pre-market trading showing an increase of up to 100%. Trading of GameStop stock has been halted on Robinhood. Gill's total position in GameStop is valued at approximately $210 million, making him one of the largest individual shareholders in the company. The stock's dramatic rise has reignited interest in meme stocks, reminiscent of the 2021 short squeeze.