“DeepF – ingValue” went deep into the red.
The Reddit user who helped unleash the explosive rise in GameStop’s share price said he lost more than $ 13 million in one day when the shares crashed.
Keith Gill – the Massachusetts man, better known as DeepF – ing Value on Reddit and ‘Roaring Kitty’ on YouTube, revealed the loss on Reddit’s WalldreetBets forum, where he regularly shared updates on his GameStop investment.
Gill has 50,000 shares in the video game retailer, as well as 500 call options. The value of its stock fell $ 13.6 million on Tuesday when GameStop’s share price tumbled 60 percent, losing about $ 5.2 million on Monday, according to snapshots of its brokerage account it posted on Reddit.
Even with the losses, Gill says, he made a profit of $ 7.6 million on his GameStop bet, which allegedly started with an investment of $ 53,000 in June 2019. It appears he has not sold any shares or options since the stock sank this week.
Gill has become an internet celebrity since his fellow WallStreetBets users made one of the biggest short press releases ever, raising GameStop’s share price to $ 483 last week.
He outlined how heavily Wall Street investors bet against GameStop in a video last year on YouTube, where he has 334,000 subscribers, according to CNBC. The dissertation helped spark an online revolution that is increasing the financial markets and attracting the attention of regulators.
“I did not expect it,” Gill, 34, told the Wall Street Journal in an interview published last week. “This story is so much bigger than me.”
Gill did not immediately respond to a message sent to his Reddit account on Wednesday morning.