Keith Gill, known online as "Roaring Kitty," has seen his investment in GameStop (GME) skyrocket. Currently, his GME position is up over $300 million, positioning him close to becoming the first GameStop billionaire.
If GameStop's rally continues, Gill could achieve billionaire status this week.
“Roaring Kitty" is currently up over $300 million in his $GME position. The stock has now added $5 BILLION of market cap today alone. He could become a billionaire this week.”
This prediction comes after a 74% surge in GME's pre-market trading, significantly boosting the stock's market cap.
GME/USD, 1-day chart Source: Google Finance
On June 2, Gill posted on Reddit that he holds $181.4 million worth of GME stock and call options. He revealed purchasing five million GME shares for $115.7 million and investing $65.7 million in call options, speculating that GME would reach at least $20 per share by June 21.
Roaring Kitty, GME position Source: Reddit
In the past five days, GME's stock price has increased by over 25%. Over the past month, it has surged by more than 40.5%, reaching $23.13 as of 11:45 a.m. UTC. The initial GameStop short squeeze in 2021 saw the stock soar over 1,000% within a month.
GME/USD, 1-month chart Source: Google Finance
Short sellers of GameStop have faced substantial losses. According to S3 Partners, they incurred approximately $1.4 billion in losses month-to-month. Citron Research, a prominent short seller, recently announced a new short position on GME, despite losing over $100 million shorting the stock in 2021 due to the retail buying frenzy initiated by Gill.
Keith Gill's significant gains in GameStop stocks position him on the brink of becoming a billionaire, showcasing the volatile and unpredictable nature of the stock market.
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