Keith Gill – who goes to DeepF —— Value on Reddit and Roaring Kitty on YouTube – says he suffered a $ 13 million loss on Tuesday alone due to his GameStop bet, but he still does not sell.
He is the man who last week helped inspire the epic short print on GameStop that sent shock waves through Wall Street. Through YouTube videos and Reddit reports, Gill attracted an army of day traders who cheered each other on and piled up in the brick-and-mortar video game stocks and call options, creating a huge short-term push as the stocks last week alone jumped 400%.
Gill says it has owned 50,000 shares of GameStop as well as 500 call options in the video game retailer since the start of 2021. At the record high of GameStop last week, Gill’s total return in the name rose more than 2,000%. according to its Reddit posts to as much as $ 33 million.
However, the short press in GameStop started to fade this week and took a big bite out of Gill’s huge profits. The trader apparently lost $ 13.6 million on its positions in GameStop shares and calls, following a loss of more than $ 5 million on Monday.
The stock for retailers fell 60% on Tuesday and has lost more than 70% of its value since Friday.
Gill started posting GameStop on YouTube six months ago and explaining to his subscribers how the 100% -plus short interest in the name can work to their advantage. While on Reddit’s infamous WallStreetBets forum, he’s been posting screenshots of his GameStop returns for more than a year, in what he calls his ‘GME YOLO update (You Only Live Once)’.
The investor owned 10,000 shares of GameStop at the end of 2020 and increased its stake in the new year, according to its posts on Reddit.
Gill’s latest seven-hour YouTube live stream on January 22, in which he describes his GameStop trade, garnered more than 650,000 views.
“Cheers everyone,” Gill told his more than 300,000 subscribers in the video, holding a champagne class. “A historic day today, undoubtedly a huge day.”
The Wall Street Journal interviewed the 34-year-old investor last week in a profile revealing his background as a star in the university as a former marketer of Massachusetts’ mutual life insurance.
Gill did not respond to CNBC’s request for comment via Twitter and Reddit.
– CNBC’s Jared Young reported.
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