Roaring Kitty Guns for Billionaire Status as GameStop Bet Pays Off
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After a hiatus spanning over three years, the enigmatic figure known as Roaring Kitty, or Keith Gill, is set to return to the spotlight with a much-anticipated livestream. Gill, renowned for his audacious bets in the meme stock craze, has become a folk hero for a legion of retail traders. His return promises to reignite the David-versus-Goliath battle against Wall Street giants.
But can he continue his market magic while skirting legal loopholes? With the SEC watching closely, the stakes are higher than ever.
Read on to find out if Gill can defy the odds and emerge a billionaire.
GameStop Aims for New Heights
Gill, celebrated for his bold investments in GameStop Corp. Cl A (NYSE: GME), is on track to join the billionaire ranks through well-planned trades. Recent data shows GME shares closing Thursday’s trading at about $46.55, a significant 47.45 percent jump from the day’s start.
The positive sentiment around GME extended into after-hours trading, with the stock surging by 31.62 percent to around $61.27, trading over $30 million.
Gill shared details of his large GME holdings on Thursday via Reddit, revealing a stake worth over $586 million. His portfolio saw a gain of over $250 million in just one day.
On the Brink of Billionaire Status
With GME’s value skyrocketing, Gill is on the verge of reaching billionaire status, with his shares estimated to be worth around $325 million and GME call options surpassing $699 million.
To protect his wealth, Gill is now adding detailed disclaimers to his YouTube posts. However, there’s speculation about potential legal action from investors, similar to recent cases involving figures like Elon Musk and Dogecoin.
Impact on Crypto
Following GameStop’s surge, GME-themed cryptocurrencies across various blockchain networks have seen significant gains. For example, the Solana-based GME meme coin surged by over 100 percent, trading at about $0.025 during Friday’s early Asian session. Similarly, GME meme coins on Ethereum and Base chains experienced similar spikes in value within the same timeframe.
Do you think Gill’s tactics are fair play? Share your thoughts.
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