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The Return of Roaring Kitty and the GameStop Rally
After a two-week hiatus, the infamous Roaring Kitty Twitter account is back in action. Along with its return, the GameStop share price has surged, nearly doubling in pre-market trading to $38.88. The account is managed by Keith Gill, a financial analyst who gained fame as a stock and meme influencer during the 2021 GameStop short squeeze.
Gill’s involvement in the GameStop saga led to massive fluctuations in the GME share price, reaching an all-time high of $483. While some retail investors reaped significant profits, several hedge funds suffered substantial losses. This time, the account resurfaced with an image of an Uno reverse card, seemingly retracting its recent “E.T. the Extra-Terrestrial”-themed farewell.
Reddit Revelation
Simultaneously, Gill’s Reddit account, known as DeepFuckingValue, disclosed that he was the GameStop whale purchasing $20 call options expiring on June 21. These options represent a bet that GME will surpass $20 by the specified date. Prior to this revelation, Gill’s trading activities had attracted attention due to his $116 million position, reminiscent of another GameStop whale who cashed out $44 million before Roaring Kitty’s hiatus.
Market Impact
Gill’s resurgence has reignited the GME rally, with the stock price nearly doubling since Friday. This surge could potentially inflate Gill’s GME holdings to around $214 million when the U.S. markets open today.
“HOLY SHIT! I have been reporting on a GameStop, $GME, whale buying $20 calls expiring June 21 over the last seven days. DeepFuckingValue aka RoaringKitty just disclosed he was the whale on Superstonk. This is insane. His position value is over $200 MILLION in $GME.” – unusual_whales
Community Responses
However, Gill’s return has not been universally praised. On the Wall Street Bets subreddit, a moderator emphasized that WSB is not solely dedicated to GameStop discussions. Some users expressed reluctance towards GME-related content, referring to the stock as “the stock that shall not be named.”
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