Roaring Kitty, the man who inspired the 2021 meme stock frenzy, has once again caused GameStop shares to soar in premarket trading on Monday. The rally comes after Keith Gill posted a screenshot on social media suggesting he holds a massive position in the game retailer, totaling nearly $116 million. The post, shared on Reddit’s r/Superstonk forum, showed that Gill holds 5 million shares of GameStop purchased at $21.27 per share, as well as 120,000 call options due to expire on June 21 with a strike price of $20.
Despite the gains in premarket trading, GameStop shares later pared to $40.60 per share, still marking a significant jump of around 75%. Gill’s post has not been independently verified by Forbes, but it has already made waves on social media. Under his Roaring Kitty handle, Gill posted a cryptic image of an UNO reverse card on X, which has been viewed 5.6 million times and received thousands of likes and retweets. The card is often used as a meme to indicate a comeback or some form of karmic retribution.
In addition to fueling a rally in GameStop shares, Gill’s post also appears to have propelled a meme cryptocurrency of the same name, GME, to new heights. The Solana-based memecoin has surged over 230% in the last 24 hours and now has a market capitalization of $94.5 million. Gill, known for his posts on forums like Reddit’s r/WallStreetBets, has been largely absent from social media in recent years but made a comeback last month, reigniting popular interest in meme stocks and triggering a multi-day rally that pushed GameStop shares to nearly $50.
Gill’s return to social media has once again brought attention to meme stocks like GameStop, with his latest post causing a surge in the game retailer’s shares. The rally in premarket trading on Monday morning, while later paring back slightly, still represents a significant jump of around 75%. Gill’s massive position in GameStop, totaling nearly $116 million, as shown in his portfolio screenshot shared on social media, has caught the attention of investors and retail traders alike.
Despite the gains in GameStop shares and the surge in the meme cryptocurrency GME, propelled by Gill’s post, the true impact of his latest actions remains to be seen. Gill’s influence on social media, particularly in the realm of meme stocks and cryptocurrencies, has been undeniable, and his return to the spotlight has once again caused a frenzy among investors and retail traders. As the saga of GameStop and meme stocks continues to unfold, all eyes are on Roaring Kitty and his next moves in the market.
