Keith Gill, the stock trader who gained fame during the 2021 GameStop short squeeze, could find himself on the precipice of joining the billionaire club, following a resurgence in GameStop shares. Known online as “Roaring Kitty” or “DeepFuckingValue,” Gill on June 2 revealed he had $180 million worth at stake in GameStop, dividing his investment into $115.7 million in shares and $65.7 million in call options.
Gill’s renewed betting on GameStop sent ripples across the stock market, triggering a climb in the gaming retail company’s stock price. In fact, Robinhood’s overnight markets saw GameStop shares leap by almost 20% mere minutes after his revelation, and shares have been up by an impressive 38.8% in 2024 thus far.
Analysts at The Kobeissi Letter expressed belief Gill is soon to be a billionaire if GameStop’s price retains its current momentum. They noted that if the stock begins trading at its after-hours price of $67.50 per share, Gill’s GameStop position would surge to a staggering $1 billion.
However, Gill’s high-stakes trading has also invited controversy. Citron Research, a prominent GameStop short-seller, accused Gill of market manipulation, alleging he was backed by an external party for this scale of trade.
Following these allegations, Massachusetts securities regulators launched an investigation into Gill’s trading activities, exploring potential market manipulation. They would scrutinize Gill’s communication channels, including texts, emails, and Reddit posts, to discern if he was illegally manipulating the market to accumulate personal wealth.