Yahoo FinanceGameStop Set to Jump as Keith Gill Post Shows $116 Million Bet
(Bloomberg) -- GameStop Corp.’s shares are set for a wild ride at Monday’s opening after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the stock.
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The June 2 screenshot by Keith Gill, who goes by DeepF— Value on Reddit, shows five million shares bought at $21.27 per share. It was the account’s first post in three years. The screenshot, which included option positioning, couldn’t be verified.
The game retailer’s stock soared more than 19% to $27.58 in Sunday trading on Robinhood, which allows 24-hour transactions for some shares. The price was at the high end allowed by Robinhood.
On Twitter, Gill, using his account handle Roaring Kitty, also posted an image of a UNO Reverse card, which is used by players in the game to change the card-pickup direction. The post had attracted more than 3.2 million views in less than three hours since its publication at about 8 p.m. Sunday New York time.
Gill has largely been silent on social media since he rallied day-traders on Reddit in 2021 to buy the stock to push back on short sellers.
In mid-May, he returned to Twitter with an image of a video gamer leaning in, fueling anticipation that he will actively return to the market
GameStop shares have fallen more than 50% since his mid-May post. The stock famously soared more than 2,000% in early 2021, bringing the meme-stock frenzy into the broader public consciousness.
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