Roaring Kitty also known as Keith Gill on track to become a billionaire as GameStop stock continues to rise
Keith Gill, also known as Roaring Kitty, is gearing up to livestream for the first time in over three years. The well-known meme stock trader has successfully rallied thousands of retail traders against billionaire hedge fund managers. Financial law experts suggest that Gill is exploiting a loophole in the regulations, making it difficult for the US Securities and Exchange Commission (SEC) to charge him with fraud or market manipulation.
GameStop Stock Sets Sights on New All-Time High
Recognized for his significant position in GameStop Corp. Cl A (NYSE: GME), Gill is on track to achieve billionaire status through strategic trading. Recent stock market data indicates that GME shares concluded Thursday’s trading session at $46.55, marking a 47.45 percent increase from the opening price.
The bullish momentum for GME continued in after-hours trading, with the meme stock surging by 31.62 percent to reach approximately $61.27, with a trading volume of around $30 million.
Roaring Kitty Poised for Billionaire Status
Roaring Kitty, also known as DeepFuckingValue, has updated his GameStop $GME position. His holdings are currently valued at over $586 million, reflecting a 219% gain thus far.
Gill shared details of his GME holdings via his Reddit account on Thursday. By the end of the day, his GME portfolio had gained over $250 million in value, bringing his total holdings to over $586 million.
With the ongoing surge in GME, Gill is on track to realize billionaire status through unrealized profits. His shares are anticipated to be valued at approximately $325 million, while his GME call options are estimated to be worth more than $699 million.
To safeguard his wealth, Gill has started to include extensive disclaimers in his YouTube posts. It may only be a matter of time before a group of investors files a lawsuit against Gill for market manipulation, similar to cases involving Elon Musk and Dogecoin.
Crypto Market Implications
Following the notable increase in GameStop stock, GME meme coins across different blockchain networks have experienced significant gains in the past 24 hours. For example, the Solana-based GME meme coin surged by over 100 percent in the last day, reaching approximately $0.025 during the early Asian trading session on Friday. Similarly, Ethereum and Base-based GME meme coins also saw increases of over 100 percent in the same timeframe.
Tags: Altcoins