Keith Gill, known as Roaring Kitty, has sparked a conspiracy theory by increasing his holdings in GameStop (GME) to over 9 million shares, adding 4 million more to his portfolio.
On June 13th, Gill, also known as “DeepFu**ingValue,” announced his purchase of an additional 4 million shares of GME worth $262 million. This brings his total shares to over 9 million, valued at about $262 million at the close of trading that day. He also closed his GME call options set to expire the following week.
Speculation has arisen within the community that Roaring Kitty may be preparing to join the GameStop board of directors as his shares surpassed the 9 million mark. A stock trader pointed out that Gill’s newly acquired shares make him the fourth-largest shareholder of GME, predicting that the stock’s momentum could drive the price to $200.
Adding weight to the theory, Jacob Slade, founder of Mt. Zion Market Ventures, noted that Gill now holds the same number of shares that GameStop CEO Ryan Cohen disclosed upon joining the company. Slade highlighted evidence from various sources supporting the idea, including a post on Gill’s Twitter account and an Easter egg on GameStop’s website referencing Roaring Kitty.
Roaring Kitty has had a significant impact on the stock market and cryptocurrency space through his investments. His announcement of a $180 million position in GME on June 2 caused a rally in prices, with the stock jumping 19% shortly after. Community members speculated that Gill’s shares could potentially reach $1 billion in value, but the prices have since stabilized around $30 per share.
In the cryptocurrency space, memecoins experienced substantial growth upon Roaring Kitty’s return, with GME seeing gains of over 100% along with other prominent memecoins. However, recent news of a live stream by Gill did not have as much impact, with GameStop shares surging nearly 50% before dropping 40% following the announcement of a $3 billion share sale during the stream. GameStop shares closed at $28.22 after volatile trading.
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