Roaring Kitty Keith Gill on Track to Become Billionaire as GameStop Stock Skyrockets

Keith Gill, also known as Roaring Kitty, is gearing up to host his first livestream in over three years. The renowned meme stock trader has successfully rallied thousands of retail traders against billionaire fund managers. Legal experts in the financial industry suggest that Gill is taking advantage of a regulatory loophole, which shields him from prosecution by the US SEC for fraudulent activities or market manipulation.

GameStop stock is on track to reach a new all-time high, primarily due to Gill’s significant position in GameStop Corp. Cl A (NYSE: GME). Recent stock market data reveals that GME shares concluded Thursday’s trading session at approximately $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 climbing by 31.62 percent to reach around $61.27, accompanied by a trading volume of about $30 million.

Roaring Kitty, also known as DeepFuckingValue, has updated his GameStop position, bringing his net worth to over $586 million, reflecting a gain of 219% thus far. Gill shared the details of his GME holdings on Reddit, revealing that his portfolio had surged by more than $250 million by the end of Thursday.

With the ongoing surge in GME’s value, Gill is poised to reach billionaire status through unrealized profits. His shares are projected to be valued at approximately $325 million, while his GME call options are estimated to be worth more than $699 million.

In an effort to safeguard his wealth, Gill has begun including extensive disclaimers in his YouTube content. It is anticipated that a group of investors may take legal action against Gill for market manipulation, following similar cases involving Elon Musk and Dogecoin.

The surge in GameStop stock has also had implications for the cryptocurrency market. Various GME meme coins across different blockchain networks have experienced significant gains in the past 24 hours. Notably, the Solana-based GME meme coin surged by over 100 percent to trade at around $0.025 during the early Asian trading session on Friday. Similarly, Ethereum and Base-based GME meme coins also saw substantial increases of over 100 percent in the same period.

Tags: Altcoins