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Famed Reddit trader Keith Gill has piled more money into his GameStop investment (GME)

Published by Business Insider on Mon, 22 Feb 2021


<p><img src="https://static4.businessinsider.com/image/6033c17538aa9f00185e02a5-2400/Keith Gill Reddit Wall Street Bets Deep Effing Value Washington.JPG" border="0" alt="Keith Gill Reddit Wall Street Bets Deep Effing Value Washington.JPG" data-mce-source="House Committee on Financial Services/Handout via Reuters" data-mce-caption="Keith Gill, an individual online investor in GameStop, testifies during an entirely virtual hearing of the House of Representatives Committee on Financial Services entitled Game Stopped' Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide'"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>Keith Gill has put his money where his mouth is and purchased more shares of GameStop, according to a screenshot posted to Reddit.</strong></li><li><strong>Gill bought 50,000 shares of the video-game retailer, bringing his total common stock stake to 100,000 shares.</strong></li><li><strong>Gill explained his bullish case for GameStop stock in his testimony to Congress last week.</strong></li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p>Famed Reddit trader Keith Gill has increased his stake in <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a>, according to a screenshot he posted to Reddit on Friday.</p><p>Gill, who goes by Roaring Kitty on YouTube and Twitter and DeepF---ingValue on Reddit, now owns 100,000 shares of the video-game retailer, representing a double of his previous common share stake of 50,000 shares. Gill also owns call options on the stock, worth about $1.5 million as of Friday.&nbsp;</p><p>In total, Gill's current stake in GameStop, between his stock and call options, is worth about $5.5 million. Gill has already realized profits in his GameStop investment of more than $10 million.&nbsp;</p><p>Gill initially invested in GameStop in June 2019, when shares were trading below $10. Last month, the stock topped out at $483 after <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-gme-reddit-retail-day-traders-wallstreetbets-citron-2021-1-1029999747">an epic short-squeeze was sparked by members of Reddit's WallStreetBets forum.</a> Gill's initial $50,000 investment in GameStop was briefly worth $48 million amid the short-squeeze frenzy last month.</p><p>Gill <a href="https://markets.businessinsider.com/news/stocks/roaring-kitty-gamestop-stock-congress-still-bullish-prepared-remarks-testimony-2021-2-1030094272">testified to Congress last week and explained his bullish thesis</a> on GameStop, which is predicated on a potential turnaround in the retailer, a shift to e-commerce sales, and the renewed video game console sales cycle from <a href="https://markets.businessinsider.com/stocks/sne-stock">Sony</a> and <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>.</p><p>Shares of GameStop traded up as much as 20% on Monday.</p><p><img src="https://static4.businessinsider.com/image/6033c669bed5c50011a2bcaa-694/roaring kitty gamestop.JPG" border="0" alt="roaring kitty gamestop.JPG" data-mce-source="Reddit"></p><p><a href="https://markets.businessinsider.com/news/stocks/reddit-trader-keith-gill-roaring-kitty-buys-more-gamestop-stock-2021-2-1030108477#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/racist-origins-marijuana-prohibition-legalization-2018-2">The racist origins of marijuana prohibition</a></p>
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