The kitten is still roaring, so GameStop is floating.
The video game retailer’s shares rose as much as 20 percent on Monday after social media influencer Keith Gill, known on YouTube under the name “Roaring Kitty” and on Reddit under the name “DeepF *** ingValue”, won one Posted a screenshot showing that he doubled his bet despite the political control and legal problems plaguing his investment.
Gill is believed to be a key player in the Reddit rally that drove GameStop and other so-called “meme stocks” soaring in January. Late on Friday, Gill posted a screenshot on Reddit showing that he bought another 50,000 GameStop shares.
The stock closed 13.33 percent on Monday to $ 46 per share on the news.
Gill’s Post reveals that he now owns 100,000 GameStop shares and $ 1.5 million in call options. That equates to a $ 4.6 million share of Monday’s close of trading and the applause from fellow Reddit investors.
“THE KING IS BACK,” replied a user of Reddit’s popular WallStreetBets chat room on Gill’s screenshot.
“Stories are told about this man for generations,” wrote another. “Religions are started. This is hilarious. “
“He bought 50,000 more while testifying before Congress!” wrote a third. “Legend.”
Gill, 34, posted the screenshot the day after testifying about the Reddit Rally with billionaire Ken Griffin and Robinhood Chief Executive Vlad Tenev – all key figures in the bizarre trading phenomenon that hit Main Street and Wall Street was equally fascinating.
Gill told Congress Thursday that he “still likes” GameStop. His Zoom appearance was also cheered on by other GameStop junkies for the “Hang in there” cat poster hanging behind him, which observers viewed as a sign of their trust in GameStop.
Gill is a licensed stockbroker who left Mass Mutual on January 28th. In his YouTube videos, he wears cat t-shirts and a red samurai-like headband over his shoulder.
But he has also been criticized for playing an oversized role in the small investor rally while calmly holding professional investor credits. He was sued for securities fraud in advance of his testimony in Congress in Massachusetts federal court.
Gill has defended himself by saying he understands that his aggressive style of investing will not “suit most people”.
“And in a year of quarantines and COVID, working with other investors on social media was a surefire way to socialize,” he told Congress. “We had fun.”
He said Gill started buying the GameStop when it was $ 5 per share in 2019. The stock rose to $ 483 per share in late January, making him a multimillionaire only to collapse again. losing him $ 13 million in a single day earlier this month.
By Friday, Gill had made $ 2.8 million in paper profits on his GameStop stock, according to his post. It was his first post since February 3, the day after he lost $ 13 million.