“Following “Roaring Kitty’s” $181.4 million investment, GameStop’s Memecoin experiences a 300% surge.”

GameStop Memecoin Surges Over 300% After “Roaring Kitty” Reveals $181.4 Million Stake

The GameStop (GME) stock experienced a significant surge of over 19% in overnight trading following a post by Keith Gill, also known as “Roaring Kitty” on Reddit. Gill, a prominent figure in the 2021 GME short squeeze phenomenon, announced he holds $181.4 million worth of GameStop stock and call options. As a result, the GameStop (GME) memecoin on Solana saw a surge of more than 300%, reaching a market cap of $105 million. This represents an impressive increase of 2850% in the past month since Roaring Kitty’s return.

On June 2, Gill made his first Reddit post since April 2021 using his “DeepFuckingValue” account. He shared a screenshot showing his acquisition of 5 million GME shares for $115.7 million, along with a $65.7 million investment in call options, betting that the stock would reach at least $20 per share by June 21. The screenshot revealed that Gill has made a profit of over $9.3 million on his GME holdings while currently facing a loss of nearly $2.5 million from his call options.

Following Gill’s post, GameStop’s stock price on Robinhood’s overnight markets surged by 19.19% within 20 minutes, reaching $27.58. This increase occurred after the stock closed at $23.14 on Friday, May 31. The shares have risen by 38.8% this year, with much of the gain attributed to Gill’s recent activities.

In addition to his Reddit presence, Gill has been sharing mysterious content on X, including a cryptic green UNO reverse card, leading to speculation and renewed interest in GameStop since his return in mid-May.