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GameStop Shares Soar Amid Keith Gill’s $116 Million Stake Revelation

After Roaring Kitty, the man who inspired the 2021 meme stock frenzy, returned to social media on Monday, GameStop shares rose as he appeared to have a large position in the game retailer.

GameStop shares experienced a significant surge on Monday after trader Keith Gill, known on social media as “Roaring Kitty” and “DeepFuckingValue,” appeared to disclose a massive $116 million investment in the company. The stock opened with a 70% increase, although it eventually settled to close up 21% at $28 per share.

Gill’s return to the spotlight began on Sunday night when he posted a screenshot on Reddit’s r/SuperStonk forum. The screenshot purportedly showed his portfolio holding five million GameStop shares purchased at $21.27 per share, amounting to $115.7 million. Additionally, the post revealed his possession of 120,000 call options with a strike price of $20, expiring on June 21, purchased at approximately $5.68 each.

Earlier on Sunday, Gill had teased his return by posting a picture of an Uno reverse card on X, formerly known as Twitter. This post garnered significant attention, with 65,000 likes, hinting at his renewed involvement in the GameStop saga.

Gill first gained fame in January 2021 when his bullish analyses of GameStop stock triggered a short squeeze, propelling the share price to unprecedented highs. His actions and subsequent testimony before the House Financial Services Committee, where he famously declared, “I am not a cat,” made him a central figure in the meme stock phenomenon. His story was later dramatized in the 2023 film “Dumb Money,” with Paul Dano portraying him.

Despite the dramatic rise and fall of GameStop’s stock price on Monday, Gill’s reappearance and substantial investment have reignited interest and speculation among retail investors. The post has yet to be independently verified, but it has certainly stirred the Reddit trading community once again.

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