Influential trader Keith Gill, also known as Roaring Kitty, is a “true believer” in GamepStop Corp., according to Derek Horstmeyer, a professor of finance at the Costello College of Business at George Mason University. Gill this week increased his stake in GameStop.
Roaring Kitty, real name Keith Gill, posted a new account screenshot update on Reddit after the close yesterday revealing that he no longer owned his prior stake of 120,000 $20 GameStop (NYSE: GME ) calls expiring on June 21. At the same time, his share ownership of GME stock increased to 9,001,000 from 5 million.
Strong retail investor interest in GameStop's GME annual shareholder meeting caused a server crash and a postponement of the event.
Keith Gill shared a screenshot of an account that held more than 9 million shares in the videogame retailer, up from 5 million shares in a similar shot from Monday.
The market could pause in the final trading session of the week following its record run, facilitated by tamer-than-expected inflation data. The major index futures were moderately lower in early trading.
Shares of GameStop Corp. pared back their gains in premarket trades Friday, with the stock down 2.1% after registering a 14.4% gain Thursday.
In recent weeks, extreme volatility in specific stocks has resurged following the return of popular trader Keith Gill, also known as Roaring Kitty, to social media. After a nearly four-year hiatus, Gill disclosed a sizable stake in GameStop (NYSE: GME), reigniting interest in the stock.
Video game retailer GameStop said that its virtual annual shareholders' meeting on Thursday was postponed without any business being conducted due to technical difficulties.
Keith Gill posted a new screenshot of his E-Trade portfolio after the bell Thursday showing that he is now holding more than 9 million GameStop shares.
Keith Gill, the stock influencer known as Roaring Kitty, updated his holding of GameStop on Thursday to show he now owns 9 million shares of the company, up from 5 million at the start of the week.
Gamestop's highly-anticipated shareholder meeting ran into a technical problem Thursday—resulting in many eager investors being unable to log on to the livestream.
The high volatility around GameStop Corporation GME stock continues after the return of Roaring Kitty, aka Keith Gill, on social media prompted increased attention in the video game retailer.