Roaring Kitty Roars Again As His GameStop Portfolio Surges To Over $389 Million In Value | Know Your Meme
Meme Encyclopedia
Images
Editorials
More
Know Your Meme is the property of Literally Media ©2024 Literally Media. All Rights Reserved.

Roaring Kitty Roars Again As His GameStop Portfolio Surges To Over $389 Million In Value

By Aidan Walker

3187 views
Published 21 days ago

Published 21 days ago

Roaring Kitty, aka Keith Gill (the mind behind the WallStreetBets Short Squeeze), may just be a billionaire by the end of the month after his latest big bet on the stonk he loves has rocketed its price to the moon.

This latest Reddit Apollo mission launched a few weeks ago when Gill posted a meme after three years of silence.

Now, he's posted his spreadsheet to Reddit and the markets have responded.


Gill has, first of all, invested nearly $116 million directly into the stock. That investment has more than doubled in value since he made it. He's also bought $65 million in options on the stock, entering into a bet with another party that the price of GameStop will be over $20 on June 21st.

Currently, GameStop's price rests at a neat $28 (after vaulting up to over $40 on the morning of June 3rd) and Gill has about $400 million in assets.


Members of the WallStreetBets community and the financial markets more broadly were enthusiastic about Gill's entrance into the arena.

He has posted an Uno Reverse card meme to X / Twitter, purportedly indicating his intention to hodl the stonk.


Some worried that Roaring Kitty might be prosecuted for market manipulation, but others argued that he was legally safe. However, the Wall Street Journal reported that E-Trade, the company running the stock-trading platform which Gill uses, was considering banning him from using it due to concerns about market manipulation.

However, many argued that Roaring Kitty's use of social media was no different than hedge funds and others using traditional financial media to promote their investments.



Comments ( 0 )

Sorry, but you must activate your account to post a comment.