Roaring Kitty set to become billionaire if GameStock surpasses $67
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Keith Gill, commonly known as Roaring Kitty, is on track to become a billionaire if GameStop stock (GME) crosses $67.
According to The Kobeissi Letter, GME’s price surged to $67.5 in Thursday’s after-hours trading. Gill’s holdings, including shares and options, are poised to hit the $1 billion mark if GME opens at or surpasses these levels.
BREAKING: “Roaring Kitty” is set to be a billionaire as GameStop stock, $GME, surges to $67.50/share in after hours trading.
If $GME opens at or above current levels tomorrow, his shares will be worth ~$325 million and options worth ~$700 million for a combined ~$1 billion.… pic.twitter.com/UqnUPoShnv
— The Kobeissi Letter (@KobeissiLetter) June 6, 2024
GameStock closed Thursday’s trading session at around $46.5, a nearly 50% single-day gain. The rally came shortly after Gill said he would start a livestream on YouTube on Friday.
With yesterday’s rally, Gill, associated with the Reddit account DeepF***ingValue, saw his GME shares and call options surge by 119% and 376%, respectively. His portfolio, after Thursday’s market close, stood at approximately $586 million, with $382 million in unrealized profits.
Friday is shaping up to be a wild day with Gill’s upcoming livestream, scheduled for less than five hours (16h UTC). GameStop’s shares jumped over 40% in pre-market trading earlier today, according to Google Finance’s data.
Robinhood CEO: We’re prepared for GameStop frenzy
Robinhood CEO Vlad Tenev said Thursday that the trading exchange is ready for the GameStop frenzy, which is expected to come upon Roaring Kitty’s YouTube livestream.
“We are prepared. We’ve been working on improving the infrastructure tremendously,” Tenev told FOX Business on Thursday. “So much of this activity starts on the weekends or late at night, Sunday evening in this case.”
Meanwhile, E*Trade is weighing banning Gill amid concerns about potential stock manipulation, according to a report from WSJ on Monday.
Keith Gill reappeared on social media last weekend, with a post on X and Reddit. The trader also revealed his purchase of 5 million GME shares for $115.7 million and an investment of $65.7 million in call options. GameStop’s shares jumped 19% shortly after his revelation.
The trader’s return has also sparked a surge in Kitty-themed memecoins and the Solana-based token GME, which has no association with the retail game company.
On Monday, GME surged 300% in a few hours after Roaring Kitty returned to X. The memecoin skyrocketed nearly 100% yesterday night following Gill’s livestream announcement.
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Author: Vivian Nguyen
