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‘Roaring Kitty’s GameStop position is in the money

GameStop shares fell for a second straight day on Monday, dropping more than 49%, their worst two-day drop since Feb. 3, 2001, according to data compiled by the Dow Jones Market Data Group.

Ticker safety last change change %
global GameStop Corp. 24.82 -3.42 -12.11%

And yet Keith “Roaring Kitty” Gill is making money from his GameStop shares.

Gill, via his Reddit handle “Superstonk/Deep F-ing Value,” posted his latest account performance figures on Monday, and FOX Business partnered with Dow Jones Market Data Group to analyze the numbers.

What you need to know about ROARING KITTY

GameStop

Gill, via his Reddit handle “Superstonk/Deep F-ing Value,” posted the latest update on his account’s performance on Monday. (Superstonk / Reddit)

As of today’s closing price, the 5 million shares were valued at $124.15 million, up $17.78 million from the purchase price of $106.37.

The $20 call options he bought for $5.67 are currently trading at $6.81 each. The value of those options contracts is $81.72 million, up $13.62 million from the $68.1 million he bought them at.

Roaring Kitty makes big bet on GameStop management

If Gill exercised the call options, he could purchase 12 million shares at $20 apiece, or 120,000 contracts of 100 shares per contract, as detailed by Dow Jones Market Data Group. FOX Business cannot independently verify the accuracy of Gill’s post.

Gill’s update follows a YouTube live stream on Friday, marking his return to the social media broadcaster for the first time in nearly three years.

Reddit user Keith Gill, who is credited with driving GameStop’s stock price up, is seen livestreaming on YouTube from his laptop at the New York Stock Exchange on June 7, 2024. (Michael Nagle/Bloomberg/Getty Images)

During the livestream, watched by about 600,000 people, Gill reiterated his belief in the video game retailer without providing any new details.

“It’s a bet against GameStop’s management, particularly CEO Ryan Cohen and his associates,” he believes, but the video game retailer is going through a “transformation phase.” “There will probably be debate about what people think of Cohen and whether he can successfully transform the business,” the meme-stock retail trader said, joking, before urging viewers to “make up their own minds.”

GameStop CEO

GameStop Chairman Ryan Cohen (FBN)

Cohen founded Chewey.com and failed to turn around Bed Bath & Beyond, which filed for bankruptcy and is now part of Overstock.com.

On Friday, ahead of the livestream, GameStop reported a net loss of $32.2 million, sharply higher than the $50.5 million loss in the same period last year. Revenue fell 28% to $881 million from $1.2 billion. The company also said it plans to sell up to 75 million more shares, on top of the 45 million it has already sold.

GameStop’s shares have risen 98% this quarter, thanks in large part to Gill’s return.

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