Roaring Kitty Keith Gill on Track to Become a Billionaire as GameStop Stock Skyrockets
Keith Gill, also known as Roaring Kitty, is gearing up to host his first livestream in more than three years. The renowned meme stock trader has brought together a large number of retail traders to challenge billionaire hedge fund managers. Legal experts in the financial sector suggest that Gill is still taking advantage of regulatory loopholes, making it difficult for the US Securities and Exchange Commission (SEC) to pursue him for fraud or market manipulation.
GameStop Stock Targets New All-Time High
Gill, famous for his significant position in GameStop Corp. Cl A (NYSE: GME), is on track to achieve billionaire status through strategic trading. Recent data from the stock market shows that GME shares concluded Thursday’s trading at approximately $46.55, marking a 47.45 percent increase from the opening price.
The positive sentiment surrounding GME persisted during after-hours trading, with the meme stock experiencing a surge of 31.62 percent to reach around $61.27, with a trading volume of about $30 million.
Roaring Kitty on Path to Billionaire Status
Roaring Kitty, who also goes by DeepFuckingValue, has updated his holdings in GameStop ($GME). His current net worth stands at over $586 million, representing a gain of 219% thus far.
Gill shared details of his GME holdings on Thursday through his Reddit account. The value of his investments exceeds $586 million, and by the end of Thursday, Gill’s GME portfolio had increased by over $250 million.
With the ongoing surge in GME, Gill is poised to become a billionaire in terms of unrealized profits. Notably, his shares are estimated to be valued at around $325 million, while his GME call options are worth over $699 million.
To safeguard his wealth, Gill has started including extensive disclaimers in his YouTube content. Additionally, it may only be a matter of time before a group of investors files a lawsuit against Gill for alleged market manipulation, similar to cases involving Elon Musk and Dogecoin.
Crypto Implications
In the wake of the GameStop stock rally, GME meme coins on various blockchain networks have recorded significant gains in the past 24 hours. For example, the Solana-based GME meme coin surged by over 100 percent in the last day to trade at approximately $0.025 on Friday during the early Asian trading session. Similarly, Ethereum and Binance Smart Chain-based GME meme coins also experienced over 100 percent growth in the same timeframe.
Tags: Altcoins