GameStop\’s stock price surged before the market opened. Because the Reddit account that triggered the Meme stock craze in 2021 posted a screenshot showing its $116 million position in GameStop.
The king of retail investors Keith Gill (the username on Reddit is DeepF-Value) posted a screenshot on June 2. It showed that he purchased 5 million shares at a price of $21.27 per share.
This is the account\’s first post in three years.
The screenshot also shows that he holds 120,000 call options worth $65.7 million. These options expire on June 21, allowing him to purchase shares at $20 per share.
This information has not been verified.
On Germany\’s Tradegate platform, GameStop shares rose to $37.90, 64% higher than last Friday\’s closing price.
Gill\’s Roaring Kitty account on social media platform X also posted a picture of a UNO reversal card. This card is used to change the direction of taking cards in the game.
Since being posted around 8pm on Sunday, the post has attracted more than 4.5 million views in about five hours.
Bloomberg Intelligence analyst Robert Lea said: At a time when major U.S. indexes are struggling to reach new highs, the market\’s interest in Meme stocks has revived. This is a sign of excessive excitement. Considering the intensification of market headwinds, this is more likely to be a negative omen.
Since calling on retail investors to buy stocks on Reddit in 2021 to fight short sellers, Gill, the king of retail investors, has been largely silent on social media.
At the time, he believed that GameStop could reinvent itself as a top gaming center.
In mid-May, he posted an image on the X platform of a video game player leaning in close, sparking expectations that he would return to the market aggressively.
GameStop stock has fallen more than 50% since his post in mid-May sparked a two-day rally.
In early 2021, the stock soared more than 2,000%, making the meme stock phenomenon widely known.
In his previous post on April 16, 2021, Gill posted a screenshot showing that he held 200,000 shares of GameStop stock. At that time, it was worth approximately US$30.9 million.
Posting again after three years! Roaring Kitten is back! Flying to GME tonight?
GameStop shares surged pre-market after the Reddit account that sparked the meme stock frenzy in 2021 posted a screenshot showing its $116 million position in GameStop
Like (0)
Tough Nvidia! AMD Su Zifeng’s latest statement: We are now at the beginning of the AI big cycle
Previous
June 3, 2024 6:18 pm
Musk: Will spend at least $9 billion to purchase 300,000 Nvidia AI chips
Next
June 3, 2024 6:18 pm