He likes the stock.
Social-media trading star Keith Gill, known by his social-media nickname Roaring Kitty posted what is believed to be a screenshot of his trading portfolio to Reddit Wednesday afternoon that may show a massive position in videogame retailer GameStop Inc.
made up of almost $19 million in equity and $8.9 million in options. The screenshot also suggests that he’s holding on to $11.9 million in cash.
The screenshot of Gill’s purported trading account, which couldn’t be verified by MarketWatch, does fit with the investor’s habit of intermittently posting updates to his account on the Reddit board r/WallStreetBets where he goes by the alias u/deepfuckingvalue.
Gill’s screenshots show stunning growth to a position that has been seen by many as the catalyst behind the surge in GameStop and other so-called meme stocks.
Gill reportedly first invested in GameStop back in June 2019, for what he claims was $50,000. Before achieving fame in the Reddit world, he was a licensed broker at MassMutual until late January.
Roaring Kitty garnered wider attention outside of the social-media realm, when he was hauled before Congress in February to testify about his role in the manic Reddit rally that was credited with driving shares of GameStop stock up more than 1,600% to a recent peak in late January at around $350 a share. Back then, Gill posted a screenshot the day after his testimony revealing a position totaling just over $17 million.
If Gill’s screenshots can be taken at face value, he has made $25.2 million on his GameStop wagers at a profit of more than 938%.
GameStop stock was trading up almost 2.5% midday Thursday.
View more information: https://www.marketwatch.com/story/reddit-trading-guru-keith-gill-looks-to-have-40-million-portfolio-after-his-gamestop-bet-11617301895