Roaring Kitty also known as Keith Gill poised to join billionaire ranks with GameStop stock surge
Roaring Kitty, also known as Keith Gill, is gearing up to host his first livestream 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 have noted that Gill is exploiting a loophole in the regulations, making it difficult for the US SEC to charge him with fraud or market manipulation.
GameStop Stock Sets Sights on New All-Time High
Gill, famous for his massive position in GameStop Corp. Cl A (NYSE: GME), is on track to reach billionaire status through strategic trading. Recent market data shows that GME shares closed Thursday’s trading at $46.55, marking a 47.45 percent increase from the opening price.
The bullish trend for GME continued in after-hours trading, with the meme stock surging by 31.62 percent to trade at $61.27 with a trading volume of approximately $30 million.
Roaring Kitty Poised for Billionaire Milestone
Under the moniker DeepFuckingValue, Roaring Kitty has shared an update on his GameStop position. His holdings in $GME are now valued at over $586 million, representing a gain of 219% thus far.
Gill disclosed his GME portfolio details via his Reddit account on Thursday. By the end of the day, his holdings had climbed by over $250 million, positioning him to potentially become a billionaire through unrealized profits. His shares alone are estimated to be worth around $325 million, with his GME call options valued at over $699 million.
In an effort to safeguard his wealth, Gill has started including extensive disclaimers in his YouTube content. Additionally, it may not be long before a group of investors files a lawsuit against him for market manipulation, mirroring similar actions taken against Elon Musk over Dogecoin.
Crypto Market Impact
In the wake of GameStop’s stock surge, GME meme coins across different blockchain networks have seen significant gains in the past 24 hours. For instance, the Solana-based GME meme coin soared by over 100 percent to trade at approximately $0.025 during the early Asian trading session on Friday. Likewise, Ethereum and Base-based GME meme coins experienced over 100 percent growth in the same period.
Tags: Altcoins