Purrworthy Play? GameStop (GME) Shares Soar as Roaring Kitty Investor Discloses $116M Position

Shares of GameStop (GME) were soaring in early trading on Monday following speculation that Keith Gill, the central figure of the pandemic meme stock craze, owns a significant number of shares in the video game retailer potentially worth millions. GameStop’s stock surged more than 37% in morning trading.

Keith Gill, known as “Roaring Kitty” on YouTube and X, and as Deep F—–g Value on Reddit, shared a screenshot late Sunday in the r/SuperStonk forum. This image is speculated to reveal Gill’s holdings in GameStop, showing he may possess 5 million shares valued at $115.7 million based on Friday’s closing price. The screenshot also indicated he holds 120,000 call options for GameStop with a $20 strike price expiring on June 21, purchased at approximately $5.68 each. Additionally, Gill’s account on X posted a picture of a reverse card from the game Uno on Sunday night, without any accompanying text.

This recent activity comes roughly three weeks after Gill resurfaced online for the first time in three years, which previously spiked GameStop’s price. In May, the “Roaring Kitty” account posted a meme on X and followed it with an old YouTube video where Gill advocated for GameStop, stating, “That’s all for now cuz I’m out of breath. FYI here’s a quick 4min video I put together to summarize the $GME bull case.”

In 2021, GameStop was a struggling video game retailer as consumers shifted from discs to digital downloads. Major Wall Street hedge funds and investors were shorting its stock, betting on its decline. Gill and his supporters altered the company’s trajectory by purchasing thousands of GameStop shares, challenging conventional investment metrics that indicated the company was in trouble.

This initiated a “short squeeze,” where large investors who had bet against GameStop were forced to buy its rising stock to cover their losses.

Other stocks joining the meme surge on Monday include AMC Entertainment Holdings (AMC), up more than 12%, Koss Corp. (KOSS), a headphone manufacturer, rising nearly 6%, and BlackBerry (BB), the former dominant smartphone maker, climbing over 2%.

 

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Purrworthy Play? GameStop (GME) Shares Soar as Roaring Kitty Investor Discloses $116M Position

Ashlee Vogenthaler

Markets Editor