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GameStop Stock Soars After Roaring Kitty Reveals $116 Million Stake

John Minchillo/AP

  • Shares of GameStop soared in premarket trading Monday.
  • The surge came after “Roaring Kitty” trader Keith Gill revealed a $116 million position.
  • The meme stock also jumped last month after Gill broke a three-year silence on social media.

GameStop shares jumped ahead of Monday’s open after trader Keith Gill, who posts on social media under the pseudonyms “Roaring Kitty” and “DeepFuckingValue,” revealed he owns a $116 million stake in the struggling retailer.

The stock was up 84% in premarket trading shortly before 5 a.m. ET after an account snapshot posted to Reddit’s r/SuperStonk forum revealed that Gill owned five million GameStop shares.

On Sunday evening, the trader also posted a photo of a reversed “Uno” card on X, which received 56,000 likes at last check.

GameStop also saw a spike last month after Gill broke a three-year silence on social media with a series of cryptic posts, although the so-called meme stock later gave up most of those gains.

Gill made headlines in January 2021 when his bullish analyzes of GameStop triggered a short squeeze.

He later told the House Financial Services Committee that he was “not a cat.” He was one of the main characters in the 2023 film Dumb Money, where he was played by “The Batman” and “There Will Be Blood” actor Paul Dano.

News Source : www.businessinsider.com
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