Meme Foundation GameStop rallying on speculation again Keith Gill, the man who inspired 2021’s epic short squeeze, is now poised to take a huge position in video game retail.
Gill, known as DeepF—–Value on Reddit and Roaring Kitty on YouTube and X, reappeared Sunday evening, posting a screenshot of what could be his portfolio, which contained a significant amount of GameStop common stock and call options .
Reddit traders’ favorite trader owns 5 million shares of GameStop worth $115.7 million as of Friday, according to an account snapshot posted on Reddit forum r/SuperStonk. The account also held positions of 120,000 GameStop call options with a strike price of $20 expiring on June 21, which were purchased for approximately $5.68 each. GameStop shares closed at $23.14 on Friday.
The report has not been independently verified by CNBC. Notably, he did not post on the infamous WallStreetBets chat room, where he posted all of his trading news during the height of the GameStop mania more than three years ago. Even though the username is the same as what was used.
Around the same time on Sunday evening, Gill posted a cryptic photo of a reverse card from the game “Uno” on X, which quickly racked up nearly 30,000 likes.
GameStop shares jumped more than 19% on the 24-hour exchange Robinhood on Sunday evening, allowing for continuous trading of certain stocks. Shares could rise when premarket trading begins at 4:00 a.m. Monday.
Gill’s first return to social media three weeks ago sparked a stunning run for GameStop, with shares more than doubling in May alone. At the time, he simply posted a photo of a man in a chair leaning forward, but that was enough to spark a buying frenzy among amateur traders.
GameStop took advantage of the May rally, raising more than $900 million in stock sales.
GameStop, since the beginning of the year
The investor was a former marketer for Massachusetts Mutual Life Insurance. In 2021, through YouTube videos and Reddit posts, Gill urged a group of retail traders to push out short-selling hedge funds on GameStop.
At one point, the situation became so turbulent that brokerages, including Robinhood, had to restrict trading in the stock because it was pushing up their clearing house margins. The mania also led to a series of congressional hearings with Gill on brokerage practices and the gamification of retail trading.
GameStop is still struggling with the shift to online gaming from brick-and-mortar video game purchases, and investors are counting on CEO Ryan Cohen to eventually reinvent the company.