GameStop's Roaring Kitty Holds Firm with 5 Million Shares Amidst Roller-Coaster Ride

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ICARO Media Group
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03/06/2024 21h27

In the midst of GameStop's continued market volatility, Keith Gill, widely known as "Roaring Kitty," has shown that he still holds a significant stake in the video game retailer. Gill, who has gained meme stock leader status, posted a screenshot of his portfolio on Monday, indicating that he maintains ownership of 5 million shares of GameStop and 120,000 call options with a strike price of $20 set to expire on June 21.

Gill's post on Reddit's r/SuperStonk forum has not been independently verified, but it did catch the attention of investors. Following the post, GameStop's shares climbed approximately 4% in after-hours trading.

The roller-coaster ride for GameStop continues, as the stock closed Monday's session with a 21% increase. At one point during the day, it had soared by as much as 70%. However, this surge was partially dampened by a Wall Street Journal report that revealed internal discussions at E-Trade, the brokerage owned by Morgan Stanley, about potentially banning Gill from their platform due to concerns of market manipulation.

Despite concerns raised, Gill's latest portfolio screenshot indicated that he did not sell any of his holdings, even as the value of his common stock stake alone skyrocketed from $115.7 million to $140 million in a single day.

Gill's handle, "DeepF------Value," has become synonymous with GameStop's recent market phenomenon. His engagement with the Reddit and YouTube communities has attracted a large following, who have closely followed his investment strategies and propelled the stock's unpredictable performance.

As the saga surrounding GameStop and "Roaring Kitty" continues, market participants will keep a watchful eye on E-Trade's decision regarding Gill's future on its platform. It remains to be seen whether his positions in GameStop will continue to contribute to the stock's turbulent journey or if new developments will alter the course for this meme stock leader.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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