Shares of GameStop are soaring before the market open on Monday following speculation that the man at the center of the pandemic meme stock craze owns a large number of shares of the video game retailer that may be worth millions.
Keith Gill, better known as “Roaring Kitty" on social media platforms YouTube and X, also goes by the name Deep F- - - - - - Value on Reddit. Late Sunday the Reddit account shared a screenshot in the r/SuperStonk forum that people are speculating could be an image of the shares and call options Gill holds in GameStop. The image showed that Gill may hold 5 million shares of GameStop that were worth $115.7 million as of the closing price on Friday.
This latest activity comes about three weeks after Gill appeared online for the first time in three years, spiking the price of GameStop at the time. In May, the “Roaring Kitty” account posted an image on X of a man sitting forward in his chair, a meme used by gamers when things are getting serious. GameStop in 2021 was a video game retailer that was struggling to survive as consumers switched rapidly from discs to digital downloads. Big Wall Street hedge funds and major investors were betting against it, or shorting its stock, believing that its shares would continue on a drastically downward trend.
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