The prominent GameStop short squeeze instigator Roaring Kitty (real name Keith Gill) has announced that he will be live streaming on his YouTube channel later (June 8th, 0:00 Taiwan time), with over 12,000 people already waiting online before the deadline. According to Yahoo Finance data, possibly influenced by this news, GameStop stock (stock code: GME) surged over 33% in pre-market trading on Friday, temporarily hovering around $62 per share before the deadline. Furthermore, according to CoinGecko data, the related meme coin GME also saw a spike, with a surge of up to 155% in the past 24 hours, trading at approximately $0.03 per coin at the time of this article’s release.
As reported by Zombit earlier, after years of silence, Roaring Kitty returned to social media in May, first posting a picture of a player leaning forward on a chair on the X platform, followed by several famous movie scenes in the following days, all without any of his own textual descriptions. Despite this, it caused a significant fluctuation in GameStop’s stock price. This week, Roaring Kitty posted on the popular forum Reddit, suggesting he may hold GameStop stocks and options, subsequently triggering the second recent surge in GME’s stock price and leading to substantial losses for traders shorting GameStop.
GME shorts may have lost $2.1 billion
Roaring Kitty posted again on Reddit yesterday (6th), with images implying that the value of his current GME stock holdings had risen to $232 million, while the value of GameStop call options with a strike price of $20 and an expiration date of June 21st had increased to $324 million.
Source:
Reddit
Analysis from “The Kobeissi Letter” indicated that GME’s stock price rose to $67.5 per share in after-hours trading on Thursday. If GME opens on Friday at or above that price, Roaring Kitty’s stock holdings would reach approximately $325 million, option value around $700 million, totaling about $1 billion. This would mean his total holdings value would increase by $850 million.
Additionally, according to estimates from The Kobeissi Letter, traders shorting GME have lost $2.1 billion today, including stock price movements during trading hours and over 30% surge in after-hours trading.