Publicly available disclosures or reports from credible financial news sources

Roaring Kitty's Return Sparks 90% Surge in GameStop Stock in Pre-Market Trading

Jun 3, 2024, 08:24 AM

Roaring Kitty, also known as Keith Gill, has made a significant return to the stock market, revealing a substantial position in GameStop (GME) valued at approximately $200 million. This disclosure has led to a dramatic surge in GameStop's stock price, which has increased by up to 90% in pre-market and overnight trading. Gill's position includes 5 million GME shares and 120,000 call options expiring on June 21st. The resurgence of Roaring Kitty's involvement has also impacted the broader market, with meme stocks like AMC Entertainment experiencing gains. Short sellers of GameStop are facing significant losses, estimated at $993 million since Friday's close. Gill initially invested $53,000 in GameStop in 2019, and his current holdings have propelled his portfolio to over $500 million.