Keith Gill, alias ‘DeepFu*kingValue’, or ‘Roaring Kitty’, triggers speculative frenzy with GameStop options positions on Reddit, revealing massive investments.
GameStop and other crypto stocks see increase in value following Gill’s post, with notable rises in GameStop and AMC stocks as well as feline-themed memecoins.
Gill’s influence on financial and crypto markets continues to grow, as demonstrated by his ability to significantly move prices through his social media posts alone.
Keith Gill, better known by his pseudonyms ‘DeepFu*kingValue’ and ‘Roaring Kitty’, made a noteworthy comeback on the Reddit forum r/superstonks, rekindling interest in GameStop stocks and memecoins.
In a post published in the early hours of the day in Asia, Gill shared his positions on GameStop options, revealing bets of over $116 million in stocks and $63 million in call options expiring on June 21.
A Marked Influence on the Markets
Gill’s post immediately sparked a speculative frenzy, influencing not only GameStop stocks but also those of other companies and various feline-themed memecoins.
GameStop stocks surged over 80%, while cinema chain AMC Entertainment Holdings Inc. saw its stocks rise up to 36% in pre-market trading. Concurrently, memecoins like toshi, mog, keycat, and wen experienced gains of up to 40%, with most of the gains occurring after Gill’s post.
This recent activity marks the second time in less than a month that Gill’s social media interventions have had a significant impact on cryptocurrency and stock markets. His financial analyses of GameStop, which began in 2019 on Reddit’s stock forums and went viral during the COVID-19 pandemic, had already led to a spectacular surge in GameStop stocks in January 2021.
This phenomenon, known as the ‘short squeeze’ of GameStop, saw many small investors band together to massively buy the company’s stocks and options, pushing prices to historic levels in order to confront institutional investors in short positions.
Gill’s initial investment of $53,000 reached nearly $50 million at its peak, solidifying his status as a legendary phenomenon and earning him a significant following.
