Keith Gill, also known as Roaring Kitty, has reportedly nearly doubled his position in GameStop stock, now owning a total of nine million shares. This increase comes after Gill previously owned five million shares and exercised call options to acquire more.
With a substantial stake in GameStop, Gill stands to gain or lose $90,000 for every penny move in the stock price. This means he could potentially earn or lose $9 million for every dollar move in the stock.
Gill's portfolio now holds $6.3 million in cash and $262.1 million worth of GameStop stock, bringing his total portfolio value to about $268 million. He briefly reached a net worth of nearly $1 billion when GameStop stock soared to over $60 in after-hours trading last week.
However, recent events such as a 75 million share offering from GameStop and a disappointing earnings release have impacted the stock price. Despite this, Gill's holdings in the company make him the fourth largest shareholder, owning approximately 3% of GameStop.
It is important to note that the authenticity of the screenshot of Gill's brokerage statement posted on Reddit has not been confirmed. Additionally, as GameStop continues to make headlines and undergo changes in ownership, Gill's ranking among the company's top shareholders may shift as more information becomes available through future filings with the SEC.
Overall, Keith Gill's increased position in GameStop reflects his ongoing involvement in the stock and highlights the potential financial gains or losses he could experience based on fluctuations in the stock price.