GameStop Shares Surge Overnight

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GameStop shares experienced a significant surge of over 19% in overnight trading after Keith Gill, also known as “Roaring Kitty,” revealed on Reddit that he holds $181.4 million worth of GME stock and call options.

Gill, who is widely credited with influencing the 2021 GME short squeeze, made his first Reddit post since April 2021 on his “DeepFuckingValue” account on June 2.

In the post, he shared a screenshot displaying his purchase of 5 million GME shares for $115.7 million and an additional $65.7 million invested in call options, predicting that GME would reach at least $20 a share by June 21.

The screenshot also showed that Gill has made a profit of over $9.3 million from his GME holdings, but is facing a loss of nearly $2.5 million on his call options.

Following Gill’s Reddit post, GME immediately saw a 19.19% increase in just 20 minutes on Robinhood’s overnight markets, with the stock reaching $27.58.