Keith Gill, also known as RoaringKitty, is on track to become a billionaire through his investment in GameStop (GME) if the price of the company’s shares surpasses $67.5. A recent report by the Kobeissi Letter revealed that GME’s price reached $67.5 in after-hours trading, potentially resulting in Gill’s position exceeding $1 billion thanks to his significant holdings of both shares and options.
Based on the data shared, if GME were to open above $67.5, Gill’s share position would be valued at around $325 million, while his options would be valued at approximately $700 million. This combined total would make him a billionaire, resulting in an $850 million gain on his position. However, the trading session saw GME’s price drop to $37, causing some fluctuations in Gill’s position, which at one point surged by over $78 million in a single day.
RoaringKitty shared on Reddit that he owns 5 million GME shares and 120,000 $20 call options that he has been accumulating over time. The recent meme stock trading frenzy began after RoaringKitty reappeared on social media following a three-year break that concluded with his testimony in Congress. His current portfolio, based on his Reddit updates, is estimated to be around $586 million.
In addition to GameStop, AMC Entertainment, a movie theater chain, also experienced a significant increase in value, as did various lesser-known cryptocurrencies associated with RoaringKitty and GameStop. Robinhood CEO Vlad Tenev has reassured investors that the trading platform is ready for the expected GameStop frenzy, highlighting the significant improvements made to its infrastructure to handle market volatility. E*Trade, the trading platform used by Gill, is reportedly considering banning him over potential stock manipulation, as reported by the Wall Street Journal.
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