Keith Gill, also known as Roaring Kitty, has recently shown through a screenshot of his E-Trade portfolio on Reddit that he now holds over 9 million GameStop shares, along with $6 million in cash. This is a significant increase from the 5 million shares and 120,000 call options he disclosed at the start of the meme stock frenzy in 2024.
It is unclear how Gill managed to increase his stake so significantly. He could have sold some of his call options to buy more shares or exercised a portion of the options early. There was a noticeable increase in trading volume of GameStop call contracts with a strike price of $20, the same ones Gill held, which led to speculation that he might be selling off some of his positions.
Despite the uncertainty surrounding his trading decisions, the total value of Gill’s portfolio, including cash, has grown to over $268 million as of Thursday. This increase in value coincided with a 14% surge in GameStop shares, following the company’s successful equity sale of over $2 billion to capitalize on the renewed meme stock rally.
The annual shareholder meeting of GameStop was disrupted by technical issues due to overwhelming interest, highlighting the continued fascination with the company’s stock and the influence of online traders like Roaring Kitty. GameStop has stated that they plan to use the funds raised from the equity sale for general corporate purposes, such as potential acquisitions and investments.
As the saga of meme stocks and online trading continues to unfold, the actions of influential figures like Keith Gill will undoubtedly be closely followed by both investors and enthusiasts alike. The impact of these individuals on the market and the companies they invest in remains a topic of great interest and speculation in the financial world.