Keith Gill speaks virtually during a hearing on Feb. 18 at the House Financial Services.
Photographer: Daniel Acker / Bloomberg
Photographer: Daniel Acker / Bloomberg
The Reddit user who reported 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 monikers ‘Roaring Kitty’ and ‘DeepF___gValue’, has 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, effectively doubling its holdings to 200,000 shares of 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, confirms the Reddit screenshots her son posted.
Gill gained notoriety this year as one of the most influential voices on Reddit and YouTube amid retailers’ efforts to drive 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.
Screenshot by Roaring Kitty on the r / wallstreetbets Reddit page.
The comment came when he met a lawsuit that accused him of misrepresenting himself as an amateur investor. The case alleges that he was in fact a licensed professional manipulating the market for profit, which he denied.
Read: Roaring Kitty plays himself as a solo dealer, GameStop Fan
On Friday, GameStop CEO George Sherman, who is expected to leave, sold nearly $ 12 million in shares. The company is looking for a new CEO as part of a stir by Chewy.com activist investor and co-founder Ryan Cohen.
Shares in GameStop have risen 721% so far this year, although less than half of the highest level in January.