GameStop, the meme stock that garnered significant attention during the 2021 short squeeze, is experiencing a surge once again fueled by speculation surrounding Keith Gill, also known as DeepF——Value on Reddit and Roaring Kitty on YouTube and other platforms.
Keith Gill resurfaced on Sunday night, sharing a screenshot purportedly depicting a substantial position in GameStop common shares and call options within his portfolio. According to the account snapshot posted on Reddit’s /SuperStonk forum, Keith Gill holds 5 million shares of GameStop valued at $115.7 million as of the previous Friday’s closing price. Additionally, the account indicated a position of 120,000 call options in GameStop with a strike price of $20, expiring on June 21st, purchased at approximately $5.68 each. However, the post has not been independently verified by CNBC.
Notably, Keith Gill’s recent activity on social media marks his return after three weeks of absence, which previously triggered a notable rally in GameStop shares. His earlier post sparked a significant buying frenzy among amateur traders, resulting in a doubling of GameStop shares in May alone.
The investor, formerly a marketer for Massachusetts Mutual Life Insurance, gained prominence in 2021 for encouraging retail traders through YouTube videos and Reddit posts to squeeze out short-selling hedge funds in GameStop. This led to unprecedented market volatility, prompting brokerages like Robinhood to restrict trading in the stock and triggering congressional hearings on brokers’ practices and retail trading gamification.
Despite ongoing challenges in transitioning to online gaming, GameStop remains a focus for investors, with hopes resting on CEO Ryan Cohen’s efforts to revamp the company. As speculation surrounding Keith Gill’s position in GameStop persists, the stock continues to attract attention from both retail and institutional investors alike.
