Bloomberg
‘Roaring Kitty’ raises GameStop bet after exercising options
(Bloomberg) – The Reddit user who announced the increase in the share price of GameStop Corp. helped, doubled his bet by exercising his call options and buying even more shares. Keith Gill, who goes through monitors ‘Roaring Kitty’. “And” DeepF___gValue, “posted a screenshot of his portfolio showing that he exercised 500 GameStop call options that expire on Friday at a strike price of $ 12, giving him 50,000 shares. The stock closed at $ 154.69 on Friday. On top of that, Gill bought another 50,000 shares of the video game retailer, doubling its holding effect to 200,000 shares from 100,000 at the beginning of the month. His total investment in GameStop is now worth more than $ 30 million, giving him a profit of almost $ 20 million. Gill’s mother, Elaine Gill, who was reached by phone at his orphanage in Massachusetts, confirmed the Reddit screenshots her son posted. fame this year as one of the most influential voices on Reddit and YouTube amid an attempt by retailers to squeeze out GameStop short sellers. He testified during a congressional hearing in February, where he said he did not ask anyone to buy or sell the shares for his profit. The comment comes when he was charged by a lawsuit for misrepresenting himself as an amateur investor. The case alleges that he was actually a licensed security professional who manipulated the market for profit, which he denied. GameStop CEO George Sherman, who is expected to leave, sold nearly $ 12 million worth of shares, with the proceeds going to the company. according to the regulation filed Friday, to pay compensation-related taxes. Earlier this week, he forfeited approximately 587,000 shares after failing to meet performance targets. The company is looking for a new CEO as part of a stir fueled by Chewy.com activist investor and co-founder Ryan Cohen, a person with knowledge of The Case said. As part of a corporate overhaul that Cohen led, the company has included new executives, including chief executives for growth and technology, as it tries to move away from its brick-and-mortar business. GameStop, based in the suburb of Grapevine, Texas, in Dallas, has suffered a shift from the video game industry to online distribution. When gamers download or order software and equipment online, there is less reason to go to a physical store. Shares of GameStop have risen 721% so far this year, although they are less than half the peak level in January. The company announced on Tuesday that it will have to retire senior debentures over two years, which will leave it virtually debt-free. (Background updates on the company’s debt. A description of GameStop’s stock trading CEO of a previous version has been corrected.) Us at bloomberg.com Sign up now to stay ahead of the most trusted business news source. © 2021 Bloomberg LP