Keith Gill, known by his online aliases Roaring Kitty and DeepFuckingValue, has made a massive new investment in GameStop (NYSE: GME). Reports indicate that Gill has purchased $65 million worth of call options and now holds $115 million in GameStop shares, bringing his total investment to approximately $180 million.
According to multiple observers on X, Gill has acquired call options with a strike price of $20, set to expire on June 21, 2024. These options alone are valued at $65 million. Furthermore, he is reported to own over five million shares of GameStop, roughly 1.6% of the company’s outstanding shares.
“DeepFuckingValue has just revealed he owns $180M worth of $GME. He initially invested $53k in 2019,” noted X user Ticker History. This revelation has caused a buzz among retail investors, reminiscent of the original GameStop short squeeze saga that brought Gill into the spotlight in early 2021.
Financial writer Edwin Dorsey commented, “RoaringKitty/DeepF***ingValue appears to be back on Reddit with ~$180 million in $GME stock and call options. Tomorrow could get crazy.” The anticipation of how this investment will impact GameStop’s stock price is palpable.
Fintwit platform Unusual Whales has been tracking a significant purchase of GameStop call options over the past week. In a post, they stated, “HOLY SHIT! I have been reporting on a GameStop, $GME whale buying $20 calls expiring June 21 over the last seven days. DeepFuckingValue aka RoaringKitty just disclosed he was the whale on Superstonk. This is insane. His position value is over $200 MILLION in $GME.”
X user Quoth the Raven highlighted the potential upside of Gill’s investment: “He’s long 17 million shares notional. Since he made like $40m years ago, the last spike in $GME netted him ~$75m estimated (using 50% margin requirement estimate). And — if $GME goes to $100 one more time, he’s a billionaire. Insane.”
The impact of this investment on GameStop’s stock price and the broader market could be significant. Given the historical context of the GameStop short squeeze, this new investment by Roaring Kitty is expected to attract a flurry of retail trading activity, potentially leading to increased volatility.
Pre-market, GameStop is already trading up over 70%, near the $40-mark–its highest since early May when Roaring Kitty was first reported to be back and actively trading again.
Roaring Kitty
Gill, a Massachusetts resident and a Chartered Financial Analyst (CFA), initially started posting his investment ideas on YouTube and Reddit under the pseudonyms Roaring Kitty and DeepFuckingValue. His detailed analysis and bullish stance on GameStop in 2019 and 2020 gained him a massive following on social media. Gill’s investment strategy was based on his belief that GameStop was undervalued and had significant growth potential, especially with the transition to digital gaming and the involvement of activist investor Ryan Cohen.
In January 2021, Gill’s positions in GameStop became widely known, coinciding with a massive short squeeze driven by retail investors on platforms like Reddit’s WallStreetBets. This squeeze caused GameStop’s stock price to skyrocket from under $20 to over $400 at its peak. Gill’s initial investment of $53,000 grew to tens of millions of dollars, earning him both fame and scrutiny. He testified before Congress in February 2021 about his role in the trading frenzy, defending his investment strategies and emphasizing his belief in GameStop’s potential.
Early May 2024, Keith Gill made a surprise return to social media, posting an image on X depicting a gamer about to get serious as he sits in a red chair. This marked his first post since June 2021 and caused GameStop shares to soar by as much as 110% before closing the day up 74%. Short sellers suffered $1 billion in mark-to-market losses on that day alone.
Speculation arose about whether Gill himself was behind the return. Some users on X questioned the authenticity of the posts, noting Gill’s inactivity on other platforms and the “REALLY weird posts” on his X account.
Adding to the intrigue, Fintwit influencer Zack Morris appeared to have potentially insider knowledge about Gill’s return. Morris tweeted an image strikingly similar to one posted by Gill four days later, leading to speculation that Morris was aware of the scheme ahead of time.
GameStop last traded at $23.14 on the NYSE.
Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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