- Keith Gill, also known as Roaring Kitty, is on his way to becoming a billionaire with the meme stock GameStop.
- He has built a stock and options position in GameStop worth $586 million.
- During aftermarket hours, the GameStop share price continued to rise.
Discover how Roaring Kitty is leveraging GameStop to become a billionaire and the impact on related meme coins.
Roaring Kitty’s GameStop Investment Surge
Keith Gill, widely recognized as Roaring Kitty, has significantly amplified his stock and options positions in GameStop (NYSE: GME), reaching an astounding $586 million. On Thursday, the GameStop stock experienced a remarkable 47.45% jump in a single day, closing the trading session at $46.55. Concurrently, the Solana-based meme coin GME witnessed a 118% increase in value. The vigorous rally in GameStop’s stock, driven by Roaring Kitty’s strategic moves, has ignited intense interest across Wall Street.
The Implications of a Massive GameStop Rally
The GameStop price rally has been invigorated by Roaring Kitty’s aggressive investments, making the stock nearly unstoppable with over 200% gains in the past month. Keith Gill, through his RoaringKitty moniker, announced a planned YouTube live stream for Friday, stirring more excitement among investors. A screenshot shared on Reddit revealed that Gill’s combined stock and options holdings are currently valued at approximately $586 million. A whale tracker noted, “RoaringKitty has updated his GameStop, GME position, now worth over $586 million with a 219% gain so far.”
Roaring Kitty, DeepFuckingValue, has updated his GameStop, $GME position.
He is now worth over $586 MILLION, with a 219% gain so far. pic.twitter.com/OM7nMayCvZ
Once again, we are witnessing a classic standoff between individual investors and hedge funds, reminiscent of the trading frenzy in 2021. Earlier this week, Citron Research co-founder Andrew Left announced plans to short GameStop shares again after closing his previous positions in May. Commenting on Roaring Kitty’s enormous market positions, Left remarked, “He could very well be a hedge fund manager.”
During aftermarket trading, GameStop’s share price increased by an additional 31%. Prominent investor Anthony Pompliano stated, “If GameStop reaches $69 per share, Roaring Kitty could potentially become a billionaire tomorrow. If that’s not wild enough, he’ll be live streaming the whole event. From blowing up billionaire funds to becoming one himself. Incredible!”
Solana-Based GME Meme Coin Explodes
The fervor surrounding the GameStop rally has extended into the cryptocurrency market, particularly impacting the Solana-based GME meme coin. Inspired by GameStop but not affiliated with the company, the GME token surged over 118% in the last 24 hours. This gain occurred despite a broader pullback in the crypto market. Likewise, the AMC token, which shares a name with the embattled cinema chain but has no direct connection to it, also recorded a 118% spike. As reported by CoinOtag, the GME meme coin has achieved a staggering 4,600% increase over the past month, hitting an all-time high. Some analysts are even projecting a $1 price target for the GME meme coin.
For the latest updates, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channels for real-time news.
Conclusion
In conclusion, Keith Gill’s strategic moves with GameStop have not only created waves in the stock market but also influenced related digital assets like the Solana-based GME meme coin. As Roaring Kitty continues to captivate both retail and institutional investors, the future of GameStop and its associated meme coins remains both promising and unpredictable. Investors and analysts will keenly watch this space for further developments, signifying the ongoing power struggle between individual investors and hedge funds.
