GameStop Shares Surge 70% Following Roaring Kitty’s Investment Revelation

On June 3, GameStop (GME) shares on the Robinhood pre-market soared by 70% after Keith Gill’s $180 million position was disclosed. 

Gill, a former financial analyst and member of the WallStreetBets subreddit, is known by the alias The Roaring Kitty. In 2020, he spearheaded a retail traders’ “war” against Wall Street. 

Overnight, he posted a screenshot of his GME investments on Reddit. According to the post, Gill purchased 5 million GME shares for $115.7 million and invested $65.7 million in a call option, betting the stock would reach at least $20 by June 21.

On his regular position, Gill has already earned over $9.3 million, though he faces a $2.5 million loss on the options. 

The trader also shared a green “reverse card” from the UNO board game on X.

pic.twitter.com/zUuccrKWZr

— Roaring Kitty (@TheRoaringKitty) June 3, 2024

This added to a series of cryptic meme posts on social media since his unexpected return in May, when GameStop and AMC shares rose by more than 75%.

By the end of the month, meme tokens inspired by this saga also surged. GME and KITTY coins increased by 19% and 55% respectively, alongside GameStop shares, which gained about 25%.

In the past 24 hours, amid the recent squeeze, the GME meme coin surged even further—by 238%, while KITTY quotes rose nearly 400%. 

According to Google Finance, on May 31, GameStop shares closed at $22.6, but after the weekend, their pre-market price had already reached $39. 

Back on May 13, the trader achieved a 32-fold profit on the KITTY meme token following The Roaring Kitty’s reawakening.