The kitty is still roaring, so GameStop is flying.
The video game retailer’s shares rose by 20 percent on Monday after social media influencer Keith Gill – known as “Roaring Kitty” on YouTube and “DeepF *** ingValue” on Reddit – showed a screenshot Posted He doubled his stake to double his investment despite political scrutiny and legal woes.
Considering a key player in the Reddit rally sending GameStop and other so-called “meme stocks” in January, Gill posted a screenshot to Reddit late Friday showing that he had purchased an additional 50,000 GameStop shares .
The stock closed up 13.33 percent at $ 46 a share on Monday.
Gill’s post shows that he now owns 100,000 GameStop shares as well as $ 1.5 million worth of call options – giving him a $ 4.6 million stake as of Monday’s close and applause from his fellow Reddit investors Is playing
“The King Is Back”, a user of Red’s popular WalvetBats chat room, posted in response to Gill’s screenshot.
“Stories will be told about this man for generations to come,” another posted. “Religions will be introduced. It is divine. “
“He bought 50,000 more while testifying before Congress!” Wrote a third. “Legend.”
Gill, 34, posted the screenshot the day after he testified in front of Congress with billionaire Ken Griffin and Robinhood chief executive Vlad Tenev about the Reddit rally – the bizarre trade-off of Main Street and Wall Street alike All the major figures of the event.
Gill told Congress on Thursday that he still likes Gametop. His game form was also hung by fellow GameStop fans behind the “Hang in their” cat poster, which observers took as a sign of their confidence in the gametop.
A licensed stockbroker who quit her job at Mass Mutual on January 28, Gill is known for donating her shoulder-length cat T-shirt and a red Samurai-esque headband in her YouTube video.
But he was also criticized for quietly playing a role in the small investor rally, while professional investors kept quietly taking credit. He was sued for securities fraud in Massachusetts federal court for congressional testimony.
Gill defended himself, stating that he was clear that his aggressive investment style was “not suitable for most people.”
“And in a year of quarantine and COVID, connecting with other investors on social media was a safe way to socialize,” Congress said. “We had fun.”
Gill has stated that he started buying GameStop when in 2019 it was still a part of $ 5. The stock rose to $ 483 per share in late January, making him a multi-millionaire, only to crash back again, causing him a loss of $ 13 million. On the first day of this month.
As of his post, Gill on Friday made $ 2.8 million in paper profits on his GameStop stock. On February 13, this was his first post following a $ 13 million loss.