Kate Gill, aka Roaring Kitty, is broadcasting live on YouTube on June 7, 2024.
Source: Roaring Kitty | YouTube
Meme champion Keith Gill, known online as “Growling Kitty”, appears to have increased his stake in GameStopcommon stock of the company and appears to own more than 9 million shares.
Gill posted a new screenshot of his E-Trade portfolio on Reddit. Superstonk forum after the bell on Thursday, showing he now owns 9.001 million shares of GameStop and more than $6 million in cash. On June 2, the first day he began revealing his position in the 2024 stock frenzy, he had 5 million shares in his portfolio, as well as 120,000 call options against GameStop.
Call options give the holder the right, but not the obligation, to buy shares at a certain price by a certain expiration date.
It’s hard to know exactly what Gill did to reach this position. He could sell all 120,000 call contracts and use the proceeds to buy more shares, or he could sell part of the huge options position and exercise the rest early.
There was a huge spike in trading volume Wednesday afternoon when GameStop call contracts with a $20 strike price and an expiration date of June 21 were the same ones Gill held. This phenomenon, along with declines in GameStop stock prices and call options, led many to believe Gill had begun to unload.
Many speculated that Gill would not have held these calls until expiration. For Gill to meet all of his demands, he would need $240 million in stock holdings—12 million shares purchased at $20 apiece—far more than he publicly disclosed in his E-Trade account.
Gill’s total portfolio value, including cash, reached more than $268 million as of Thursday evening, up from $210 million June 2.
GameStop shares rose more than 14% on Thursday.
The video game retailer’s annual shareholder meeting was disrupted on Thursday by computer problems as servers crashed due to overwhelming interest in the stream.
GameStop recently raised more than $2 billion in stock sales as the company took advantage of the resurgence of the meme rally. GameStop said it intends to use the money for general corporate purposes, which could include acquisitions and investments.