Dallas, Texas – GameStop shares surged more than 30% on Monday following a new Reddit post by retail investor Keith Gill, known as DeepF——-Value on the platform and “Roaring Kitty” on other platforms. The post included a screenshot showing Gill’s significant holding of 5 million GameStop shares, amounting to 1.8% of the company’s publicly available stock. Additionally, Gill revealed holdings of $65.7 million worth of GameStop call options, signaling a bullish perspective on the company’s future. These call options expire on June 21 at a strike price of $20, with a total estimated value of about $116 million.
In a show of confidence in GameStop’s potential for a rebound, Gill posted a reverse green card from the popular game Uno, a move that is interpreted in the meme stock world as a sign of a potential comeback. This strategic move comes after Gill returned to social media after a three-year absence, sparking speculation about his future online trading disclosures. In his previous post depicting a gamer sitting on a chair, GameStop shares had surged over 134% in just two days.
On the financial front, GameStop shares had closed at $23.13 by the end of trading on Friday, demonstrating the impact of Gill’s online activity on the company’s stock performance. The latest developments have once again brought attention to the influence of social media investors on stock markets, particularly in the context of meme stocks like GameStop.
Analysts and market observers are closely monitoring the situation to gauge the long-term implications of Gill’s actions on GameStop’s stock performance and overall market trends. As the saga continues to unfold, investors and industry experts are poised to see how CEO Ryan Cohen navigates the company through these turbulent times and if his strategies align with the vision outlined by Gill and other prominent retail investors.