GME: GameStop Stock Catches Fire After Roaring Kitty Reveals $181M in Shares and Options

Keith Gill updated the public on his GameStop positions for the first time since April 2021. Oh, the excitement!

• GameStop stock GME unleashed again and set out on a monster run. Or — as Reddit traders like to say — it rocketed to the moon. Shares of the video game retailer doubled in pre-market trading Monday but then pared back some of that froth to clock out for the session with a 21% gain. The man who started it all back in 2021, Roaring Kitty, was behind the powerful swing just days after he touched off a huge jump in GameStop shares.
• This time, Mr. Kitty posted a screenshot allegedly showing a massive stake in GameStop. The screenshot, posted on Reddit’s SuperStonk chat room, contains a position with five million GameStop shares, worth $115.7 million. Each share was purchased at an average price of $21.27. In addition, the post also shows 120,000 call options that expire on June 21. The options are worth $65.7 million with the right to purchase them at $20.
• Interestingly, Roaring Kitty, whose real name is Keith Gill, had last updated the Reddit community on his GameStop stake in April 2021. Back then, he was holding 30.94 million shares in GameStop equity and $3.54 million in cash. There hasn’t been an official confirmation that Monday’s screenshot is authentic or that the account’s holdings were verified. But who cares? The rally was there — and that was all that mattered to the thrill-seekers who kicked off the frenzy.