Keith “Roaring Kitty” Gill returned to Twitter last month and sent GameStop’s stock price on its biggest rollercoaster ride in years, all with a mere series of random meme montages. Now he’s posted what could be a glimpse of his portfolio, including 5 million shares of GME, and the stock is skyrocketing again, which theoretically could have netted the former insurance marketer hundreds of millions in profit.
The YouTuber seems shared his current position to GameStop under his alias “DeepFuckingValue” on the Superstonk subreddit last night. A screenshot showed that he owned around $175 million worth of GameStop stock at market close on Friday, May 31. This included 120,000 call options to buy additional shares for just $20 through June 21, meaning he has the ability to continue buying cheap even if the stock price explodes again. He also posted a picture a green Uno reverse card on Twitter.
At least, that’s what everyone seems to think. Since his apparent return to social media in mid-May, Gill has yet to post any new videos confirming his renewed activity. Someone could have hacked his account, or the screenshot could be completely fake. None of this could stop GameStop’s share price from soaring in after-hours trading, rising as high as $40 before falling to $30 after the market opened today, increasing Gill’s apparent GameStop position by $50 million.
Gill, played by Paul Dano in Stupid money Hollywood dramatization of the original GameStop meme stock saga of 2021, was missing for years after seemingly leaving the internet to focus on his family. When his account resumed posting last month, the stock had hit its lowest price yet after quarter after quarter of revenue declines, botched realignments, employee layoffs and executive departures. It reached over $48 on May 13 before plunging again by the end of the week.
The community of GameStop believers, who have made a personality type out of conspiracy theory speculation about the struggling video game retailer, felt let down again when Gill’s apparent return was canceled. Now he, or at least someone, has incited them again. The Superstonk subreddit in particular is celebrating as if someone had just invented a cold fusion reactor. Adding to the mystique is the fact that attentive observers of the GME stock have a possible “whale” that sucks up call optionsThe fact that this person appears to be Gill has breathed new life into the meme stock cult.
GameStop’s board of directors took the opportunity last month to profit from renewed share prices. Fraud and collect $900 million capital by selling additional shares. It could give the game chain another chance to transform into something new. Or it could double the sales of Funko Pop! and rare Pokémon trading cards.
Update 03.06.2024 16:39 ET: The Reddit account DeepFuckingValue posted an update after the market close, showing that he has not yet liquidated his position, increasing its value by $78 million today.
As Matt Levine at Bloomberg mention, that$174 million is a lot of money and it’s hard to believe Gill was able to raise it all on his own. The Wall Street Journal Reports that E-Trade is considering kicking him off its platform, although no final decision has been made yet.
