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Roaring Kitty Reveals $200M GameStop Bet, Stock Surges 80%, Up $300M

Jun 3, 2024, 01:14 PM

Keith Gill, known as 'Roaring Kitty' and 'DeepFuckingValue,' has made a significant return to the spotlight by revealing a massive position in GameStop (GME) stock and options. Gill disclosed on Reddit that he holds $115.7 million in GameStop shares, 120,000 call options worth $65.7 million with a $20 strike price expiring on June 21, 2024, and a total of 5 million shares. This revelation has led to a surge in GameStop's stock price, which jumped over 80% in pre-market trading. Gill's total position in GameStop is now valued at approximately $260 million, with an unrealized profit of $85 million as of Monday's close. His return has reignited interest in meme stocks, reminiscent of the 2021 short squeeze that saw GameStop's stock skyrocket. Gill is currently up $300 million on his GameStop position.