GameStop (GME) stock rose dramatically by more than 19% in overnight trading following a post from Keith Gill, known as “Roaring Kitty” on Reddit. Gill, a key figure in the 2021 GME short squeeze phenomenon, announced he owns $181.4 million worth of GameStop stock and call options. Following this news, the GameStop (GME) memecoin on Solana rose over 300% to reach a market cap of $105 million. It’s up a whopping 2850% in the past month, since Roaring Kitty returned by posting on X.
On June 2, Gill made his first Reddit post since April 2021, using his “DeepFuckingValue” account. He shared a screenshot purportedly showing that he had acquired 5 million shares of GME for $115.7 million, in addition to investing $65.7 million in call options, betting the stock would reach at least $20 per share by June 21. The screenshot indicated that Gill made a profit. of over $9.3 million on his GME holdings, while he is currently suffering a loss of almost $2.5 million on his call options.
Following Gill’s message, GameStop’s stock price rose 19.19% within 20 minutes on Robinhood’s overnight markets, reaching $27.58. This jump came after the stock closed at $23.14 on Friday, May 31. Shares are up 38.8% this year, a gain seemingly driven by Gill’s recent return.
Gill’s activity is not limited to Reddit. He has also posted puzzling content on This return has apparently reignited interest and speculation surrounding GameStop.
