GameStop’s shares surged once again amid speculation that the key figure in the pandemic meme stock frenzy holds a significant stake in the video game retailer, potentially valued at millions.
On Monday morning, GameStop’s stock skyrocketed by over 37 percent.
Known as “Roaring Kitty” on YouTube and X, Keith Gill, also identified as Deep F****** Value on Reddit, recently shared a screenshot on the r/SuperStonk forum, fueling speculation about his holdings in GameStop.
The screenshot indicated that Gill may possess five million GameStop shares valued at $115.7 million as of Friday’s closing price. It also revealed 120,000 call options in GameStop with a $20 strike price expiring on June 21, purchased at approximately $5.68 each.
Furthermore, Gill’s X account posted an image of a reverse card from Uno on Sunday night, without any accompanying text.
This development follows Gill’s reemergence online after three years, which initially caused a surge in GameStop’s price. In a recent post on X, the “Roaring Kitty” account shared an image of a man leaning forward in his chair, a meme indicating a serious situation among gamers.
Subsequently, a YouTube video from years ago surfaced, featuring Gill advocating for GameStop and presenting a concise summary of the bullish case for $GME.
In 2021, GameStop faced challenges as a video game retailer struggling to adapt to the shift from physical discs to digital downloads. Hedge funds and investors on Wall Street were betting against the company, anticipating a continued decline in its stock value.
Gill and his supporters altered the course of the company’s future…
Post from www.aljazeera.com