Retail Investor Roaring Kitty Fuels GameStop Surge Again

Keith Gill, the online investor who rose to fame during the 2021 GameStop short squeeze, is back in the spotlight and his trades are sending shockwaves through the market once more.

Gill, known by his online aliases “Roaring Kitty” and “DeepFuckingValue,” announced his return to GameStop investing on June 2nd, revealing a hefty $180 million position in the company.

This news, shared on his Reddit account, sent tremors through the market. Robinhood’s pre-market trading saw a 19% jump in GameStop’s price within 20 minutes of Gill’s post. By the close of the market, the stock had soared 38.8% for 2024 so far.

The impact didn’t stop there. GameStop’s price currently sits at $46.55, an impressive 118% increase since Gill’s announcement.

Analysts at The Kobeissi Letter believe Gill’s return could propel him to billionaire status. With after-hours trading pushing the stock price to $67.50, they predict Gill’s position could reach a staggering $1 billion if the stock opens at its current level.

The analysts further noted that GameStop closed a whopping 110% higher than the previous day, adding a cool $9.5 billion to its market capitalization within just 12 hours. This surge puts the company at a $20 billion valuation, landing it a spot among the top 400 largest public companies in the US.

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