In a remarkable turn of events, meme stock enthusiast Keith Gill, popularly known as "Roaring Kitty," appears to have significantly increased his ownership of GameStop's common stock. Gill, who gained fame for his involvement in the meme stock frenzy, revealed his updated portfolio on the Superstonk forum on Reddit.

According to the latest screenshot shared by Gill on Thursday, he now holds over 9.001 million GameStop shares, a substantial increase from his initial disclosed position. This surge in ownership comes alongside a cash reserve of over $6 million, consolidating Gill's position as a prominent player in the GameStop market.

At the beginning of this month, Gill's portfolio consisted of 5 million shares and 120,000 call options against GameStop. Call options grant the holder the right, but not the obligation, to purchase shares at a predetermined price within a set timeframe. The manner in which Gill achieved his increased stake remains somewhat unclear. Speculation suggests that he may have utilized the proceeds from selling call contracts to acquire additional shares or exercised a portion of his options early.

Notably, on Wednesday, there was a significant surge in trading volume for GameStop call contracts, specifically those with a strike price of $20 and an expiration date of June 21, which were the same ones held by Gill. This surge, coupled with the decline in GameStop's share prices, led to speculation that Gill might have started offloading his positions.

Further analysis revealed that for Gill to exercise all of his call options, he would have required a staggering $240 million, far exceeding what he had publicly shown in his E-Trade account. However, the total value of Gill's portfolio, including cash reserves, has now surpassed $268 million as of Thursday evening, compared to $210 million on June 2.

The news of Gill's increased GameStop holdings came as the video game retailer experienced a surge of over 14% in its share price on Thursday. Meanwhile, their annual shareholder meeting faced disruptions due to computer problems caused by overwhelming interest in the live stream.

GameStop recently raised more than $2 billion through an equity sale, capitalizing on the renewed meme stock rally. The company has stated its intention to utilize these funds for various corporate purposes, including potential acquisitions and investments.

As Gill's influence in the meme stock market continues to captivate traders and investors alike, his increased stake in GameStop underscores the ongoing volatility and intrigue surrounding meme stocks, leaving many curious about his next moves and the potential impact on the overall market.