1 Million

In a recent update, Keith Gill, popularly known as Roaring Kitty, revealed that he has increased his holdings of GameStop shares from 5 million to 9 million. The stock influencer shared this information on Reddit after the close of trading, disclosing that his position in the company is now valued at a staggering $262.1 million.

This new development signifies a significant increase in Gill's ownership of the company, with his shares now accounting for 2.1% of GameStop's outstanding shares, which total 426 million according to a recent regulatory filing. Gill's previous update had also mentioned his holdings of 120,000 June 21, $20 strike call options, but his most recent update suggests that he no longer holds these options.

Gill, who played a crucial role in the meme-stock phenomenon that gained prominence earlier this year, first disclosed his substantial stake in GameStop on June 2 through a Reddit post. Since then, the stock has experienced significant volatility due to the influence of his trading decisions.

As a result of Gill's increased holdings, GameStop's shares saw a 14% rise on Thursday, closing at $29.12. However, in after-hours trading, the stock dipped slightly to $28.66. Overall, GameStop's shares have displayed a remarkable 66% increase in value since the beginning of this year.

The market will undoubtedly be keeping a close eye on Gill's future moves as he continues to help shape the trajectory of GameStop's shares. With his newfound ownership and the continued interest in meme stocks, it remains to be seen how his actions will impact the company's stock performance in the coming months.

Disclaimer: This article is based on the information available at the time of writing and does not endorse any trading decisions. Prices and figures mentioned are subject to change.