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GameStop soars after investor ‘Roaring Kitty’ reveals a substantial stake in the stock

GameStop store (Via Keith Clinton/Shutterstock)

GameStop’s stock surged on Monday amid speculation that Keith Gill, a central figure in the meme stock frenzy during the pandemic, holds a significant number of shares in the video game retailer, potentially worth millions.

The volatile stock of GameStop closed the day with a 21% increase, having risen as much as 75% earlier.

Keith Gill, known as “Roaring Kitty” on social media platforms like YouTube and X, and also as Deep F- – – – – – Value on Reddit, shared a screenshot on Sunday in the r/SuperStonk forum. This screenshot, which many are discussing, purportedly shows the shares and call options Gill holds in GameStop.

According to the image, Gill may possess 5 million shares of GameStop valued at $115.7 million as of Friday’s closing price. The screenshot also indicates Gill holds 120,000 call options in GameStop with a $20 strike price expiring on June 21, purchased at around $5.68 each.

GameStop Store (Via Kevin Simmons/Getty Images)

Additionally, Gill’s X account posted a picture of a reverse card from the game Uno on Sunday night, without any accompanying text.

This recent activity follows Gill’s return to online platforms about three weeks ago, which caused a spike in GameStop’s price. In May, the “Roaring Kitty” account on X shared an image of a man leaning forward in a chair, a meme commonly used by gamers to signify seriousness.

This resurgence in interest comes at a time when GameStop, a struggling video game retailer in 2021 amid a shift from physical discs to digital downloads, faced skepticism from major Wall Street hedge funds and investors who were betting against it by shorting its stock, anticipating further declines.

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