Legendary trader Roaring Kitty finally shows his hand, and it's full of GME
Roaring Kitty isn't done making money on GME.
The trader (whose real name is Keith Gill), known for making bank on GME (Gamestop) stock in 2021, made headlines last month when his account on X sprung to life after years of inactivity.
The sheer fact that Roaring Kitty (also known as DeepFuckingValue or DFV on Reddit) was active again was enough to propel the value of GME to new yearly highs, but the price swiftly retraced to previous levels as Roaring Kitty's account kept posting dozens of cryptic memes without any real indication as to what he's investing in.
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This has now changed. On Sunday, Roaring Kitty posted a screenshot on Reddit's Superstonk subreddit. indicating that he has a massive position in GME once again, with $115.7 million worth of the stock itself and and addition $65.7 million worth of call options, allowing him to purchase GME stock at the price of $20 on June 21.
He accompanied this post with another post on X, consisting only of a Uno "reversal" card, which changes the direction of the Uno game when played.
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While there's no way of knowing whether Roaring Kitty really holds the positions he unveiled in that screenshot, the market is already reacting, with fans of the stock on Reddit calling it a "historic" moment.
The price of GME ended at $22.97 in the last trading session on the New York Stock Exchange. Premarket price of GME on Robinhood is nearly twice that much, and it currently resides at $43.20 (which, by the way, pushes the value of Roaring Kitty's position to well over $300 million).
Roaring Kitty achieved fame by leading an army of small investors, all of who kept buying GME stock until they pushed the price of GME to as high as $120, liquidating hedge fund Melvin Capital, which had a large short position in GME.
Besides being a bullish development for GME stock, some traders have noted the sheer size of Roaring Kitty's position, which is more than $180 million dollars. It was widely believed that he made tens of millions of dollars on GME, but it seems that he's managed to turn that into hundreds of millions in the meantime.
Topics Memes
Stan is a Senior Editor at Mashable, where he has worked since 2007. He's got more battery-powered gadgets and band t-shirts than you. He writes about the next groundbreaking thing. Typically, this is a phone, a coin, or a car. His ultimate goal is to know something about everything.
